The United Auto Workers (UAW) is currently engaged in high-stakes contract negotiations with Detroit’s major automakers, Ford Motor Co (NYSE:F) and Stellantis (NYSE:STLA). With the existing labor agreements set to expire in a week, tensions are rising. UAW President Shawn Fain has criticized the automakers for waiting until the last eight days to start negotiations, expressing the need for substantial progress.
What Happened: “They chose to follow the same path they have in the past, which is delay, delay,” Fain said during an interview with CNBC, as reported by Reuters. “They waited now, until the last eight days to want to start talking — so we’ve got a lot of work to do. We can get there.”
Fain also emphasized the stark contrast between Ford’s proposed 9% wage increase through 2027 and the UAW’s demand for a 46% increase.
“Our members are fired up because they watched the corporations make a quarter of a trillion dollars in the last ...