Detroit – Ford CEO Jim Farley provided an update on negotiations with the UAW.
Farley spoke to reporters after the unveiling of the new F-150 at Hart Plaza on Tuesday night (September 12).
His comments come as we are less than two days away from the 11:59 p.m. deadline.
“We put on a show today,” Farley said. “This is our most generous offer. In 80 years, UAW and Ford wages will go up. Eliminate tears, inflation protection. Five weeks vacation, 17 paid vacations, larger retirement contributions. So this is a huge boost, and we remain optimistic that we will get a deal.” “But there are limits. And because we have to protect the future, the future investments, the profitability of the company’s money, they were the largest employer in America in manufacturing cars in the United States. That was very important to the speculation, wasn’t it?”
So far, negotiations continued Tuesday, and Local 4 was told there was some movement.
There is no agreement with any of the companies yet, namely Stellantis, General Motors, or Ford Motor Company.
The highest pay increase on the table now is more than 14% over four years from Stellantis. This is still far from the UAW’s now low demand of 36%, which was originally 40%.
more: Talks between the UAW and Detroit Big Three are accelerating as the contract deadline approaches
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