Demonstrators during a United Auto Workers (UAW) practice picket outside the Stellantis Mack Assembly Plant in Detroit, Michigan, US, on Wednesday, Aug. 23, 2023.
Jeff Kowalsky | Bloomberg | Getty Images
Stellantis on Friday offered significant four-year wage increases to its hourly workers represented by the United Auto Workers, as it scrambles to avoid a costly strike.
The automaker’s offer would provide a 14.5% wage increase over the four-year term of the proposed deal for most of Stellantis’s roughly 43,000 UAW-represented hourly workers. Newer, or in-progression, employees would get a 27% boost to their starting wages and a shorter time period — six years, versus eight years under the current deal — to advance to the maximum wage rate.
The current contracts between the UAW and the three Detroit automakers will expire at 11:59 p.m. on Thursday. Union leaders have threatened strikes if no deal is in place by that time. The UAW has never in its history called major strikes…
2023-09-08 12:56:43
Original from www.cnbc.com
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