United Auto Workers, Stellantis reach tentative agreement on labor contract
The deal is reportedly based on a similar contract deal with Ford
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The United Auto Workers reached a tentative agreement on a labor contract Saturday with Stellantis, parent company of Jeep, Chrysler, Dodge and Ram.
The deal is based off a similar four-and-a-half-year contract with Ford this week, including wage increases of 25% throughout the life of the contract, and a $5,000 ratification bonus, according to the UAW.
More than 3,200 supplemental employees would also be made permanent with a starting a pay of $21 an hour and an assembly plant in Belvidere, Illinois, that Stellantis indefinitely closed last year will reopen.
"I applaud the UAW and Stellantis for coming together after hard fought, good faith negotiations to reach a historic agreement that will guarantee workers the pay, benefits, dignity and respect they deserve," President Joe Biden said in a White House release. "This groundbreaking contract rewards the autoworkers who sacrificed so much to revive our auto industry with record raises, more paid leave, greater retirement security, and more rights and respect at work."
GM LOSING $2 MILLION A WEEK ON UAW STRIKE
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| STLA | STELLANTIS NV | 12.32 | -0.89 | -6.73% |
The union called the deal a "major victory" in their strike. "After 44 days of occupying the GM plant in Flint, Michigan, the UAW announced victory," UAW President Shawn Fain said in a video posted to social media.
"Once again, we’ve achieved what weeks ago we were told was impossible," Fain added.
Members of the United Auto Workers union hold a practice picket in front of Stellantis headquarters in Auburn Hills, Mich. (Matthew Hatcher/AFP via Getty Images/File / Getty Images)
He said the UAW National Stellantis Council would vote on Nov. 2 whether to send to the tentative agreement to membership and then union members will vote on it.
The union said that it not only saved 5,000 jobs that were going to be lost, but 5,000 jobs will also be added.
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Stellantis said in a statement, "Today, as we announce that we have reached a tentative agreement with the UAW on a new labor contract, I would like to thank all the negotiating teams who have worked tirelessly for many weeks to get to this point. We look forward to welcoming our 43,000 employees back to work and resuming operations to serve our customers and execute our Dare Forward 2030 strategic plan to maintain Stellantis’ position at the forefront of innovation."
Jeep Cherokees line a parking lot outside the FCA Belvidere Assembly Plant in Belvidere, Illinois. (Chris Sweda/Chicago Tribune/Tribune News Service via Getty Images/File / Getty Images)
It added, "This agreement is now subject to ratification by Stellantis’ UAW-represented employees and, out of respect for the process, we will decline further comment to allow the UAW to share the details with its members."
The union is continuing its strike with General Motors, calling for a Saturday evening walkout at a plant in Spring Hill, Tennessee, according to the Wall Street Journal.
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"We are disappointed by GM's unnecessary and irresponsible refusal to come to a fair agreement," Fain told Reuters.
Reuters contributed to this report.