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Ford Agrees to 25% Wage Hike in Tentative Deal to End Strike
- Ford shares rise at open, its workers head back to plants
- Analyst expects union leadership, members to approve agreement
General Motors Co. and Stellantis NV are set to meet with the UAW on Thursday, according to a person familiar with the negotiations.
Photographer: Emily Elconin/BloombergThis article is for subscribers only.
The United Auto Workers has reached a tentative labor agreement with Ford Motor Co., putting pressure on the carmaker’s two chief rivals to end a protracted strike that has cost the industry billions of dollars.
Ford agreed to a record 25% hourly wage hike over the life of the contract, which exceeds four years. With cost-of-living allowances, the top wage rate is expected to increase by 33%. The top pay will be over $40 an hour, the union said.