STLA - What Does Ford's New Labor Contract Mean for Investors?
2023-11-03 09:48:00 ET
And so it ends.
On Oct. 30, the United Auto Workers (UAW) labor union representing workers at Ford Motor Company (NYSE: F) , General Motors Company (NYSE: GM) , and Stellantis (NYSE: STLA) called a halt to its six-week-long strike across multiple factories owned by the Big Three automakers . The return to work followed GM's agreement, following similar decisions by Ford and Stellantis, to offer UAW workers a historic deal that will give carmaker employees more pay raises over the next four years than they've received in the past two decades combined.
UAW workers still need to ratify the contracts being offered by their employers, but assuming that happens, they can expect to receive a total increase of 25% to their maximum hourly wage over the next four years. Additionally, the time to rise from entry-level wages to the top will shrink to just three years.
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What Does Ford's New Labor Contract Mean for Investors?