{"id":49092,"date":"2023-11-20T17:21:39","date_gmt":"2023-11-20T17:21:39","guid":{"rendered":"https:\/\/prosfunds.com\/news\/factbox-what-are-the-highlights-of-uaws-deals-with-detroit-three-automakers\/"},"modified":"2023-11-20T17:21:40","modified_gmt":"2023-11-20T17:21:40","slug":"factbox-what-are-the-highlights-of-uaws-deals-with-detroit-three-automakers","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=49092","title":{"rendered":"Factbox-What are the highlights of UAW’s deals with Detroit Three automakers?"},"content":{"rendered":"
\n

(Reuters) -The United Auto Workers (UAW) union said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts.<\/p>\n

Support from workers at some parts and components operations who stand to get substantial raises as they move to higher pay classifications outweighed votes against the contract from some veteran workers. <\/p>\n

About 55% of votes cast by General Motors (NYSE:) members were in favor of the new deal, while about 69% of Ford (NYSE:) Motors members and 68% of worker at Chrylser parent Stellantis (NYSE:) who voted supported the agreement.<\/p>\n

Following is a roundup of the new labor contract and demands from the UAW:<\/p>\n

Criteria UAW’s demands GM Ford Stellantis <\/p>\n

Battery-produc Contracts for Workers Workers To build two <\/p>\n

tion workers workers at EV covered by covered by new battery <\/p>\n

battery contract contract plants in <\/p>\n

plants Kokomo, to <\/p>\n

locate a new <\/p>\n

battery <\/p>\n

plant in <\/p>\n

Belvidere <\/p>\n

Cost of living Wanted COLA Restored Restored Restored <\/p>\n

allowances to be <\/p>\n

(COLA) restored <\/p>\n

Base-wage hike 40% 25% 25% 25% <\/p>\n

Ratification N\/A $5,000 $5,000 $5,000 <\/p>\n

bonus <\/p>\n

Right to Had demanded Yes Yes Yes <\/p>\n

strike over <\/p>\n

plant closures <\/p>\n

Equal wage Tier-system Yes Yes Yes <\/p>\n

scale (no among <\/p>\n

tiers) employees <\/p>\n

eliminated <\/p>\n

Temp employees Better All new temps All new All new <\/p>\n

benefits for converted to temporary temporary <\/p>\n

temp “in-progressi employees employees <\/p>\n

employees on” after 9 converted converted to <\/p>\n

months to “in-progress <\/p>\n

“in-progre ion” after <\/p>\n

ssion” 9 months <\/p>\n

after <\/p>\n

9 months <\/p>\n

Work-life More paid All employees 200 hours N\/A <\/p>\n

balance time off for with 20 years vacation <\/p>\n

workers or <\/p>\n

more of <\/p>\n

service are <\/p>\n

eligible for <\/p>\n

200 hours of <\/p>\n

vacation <\/p>\n

Retirement Improved Improves Increased Improves <\/p>\n

benefits retirement contributi retirement <\/p>\n

for current ons to for current <\/p>\n

retirees, 401(k) retirees, <\/p>\n

those workers individual those <\/p>\n

with retirement workers with <\/p>\n

pensions, and plans of pensions, <\/p>\n

those who current and those <\/p>\n

have 401(k) workers who have <\/p>\n

plans. and 401(k) plans <\/p>\n

increased <\/p>\n

pension <\/p>\n

payments <\/p>\n

for <\/p>\n

current <\/p>\n

retirees <\/p>\n

Reduced Demanded a Not covered Not Not covered <\/p>\n

working hours 32-hour work covered <\/p>\n

week <\/p>\n

Source: UAW statements<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) -The United Auto Workers (UAW) union said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts. Support from workers at some parts and components operations who stand to get substantial raises as they move to higher pay classifications outweighed votes against the contract from some veteran workers. […]<\/p>\n","protected":false},"author":1,"featured_media":49093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[38],"tags":[],"class_list":{"0":"post-49092","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nFactbox-What are the highlights of UAW's deals with Detroit Three automakers? | Prosfunds<\/title>\n<meta name=\"description\" content=\"(Reuters) -The United Auto Workers (UAW) union said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/prosfunds.com\/?p=49092\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Factbox-What are the highlights of UAW's deals with Detroit Three automakers? 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