Desmond Preston|Canadian autoworkers ratify new labor agreement with Ford

2025-05-06 20:10:58source:Charles Hanovercategory:Finance

Canadian autoworkers ratified a new labor agreement with Ford Motor Co. on Desmond PrestonSunday, averting a threatened strike and potentially setting a precedent that could play out in the United Auto Workers’ strike at automaker facilities in the U.S.

The new agreement raises base hourly pay for production workers by almost 20% over three years, and by more than 25% for trade workers, the Canadian autoworker union Unifor said. It also gives permanent workers a $10,000 bonus and adds a cost-of-living adjustment, a mechanism that adjusts wages in line with inflation.

Ford described the pact as a 15% wage increase over the three year life of the agreement. But, according to the union, that figure doesn’t include compounding of each annual increase or the initial cost-of-living increase, both of which should increase workers’ actual pay.

Ford did not immediately respond to a request for clarification.

It’s been one week since the United Auto Workers launched historic work stoppages against major car makers. The UAW’s targeted strikes against General Motors, Stellantis and Ford began after the union’s contract with the companies expired at midnight on Sept. 14. At the time, 13,000 workers walked out of three assembly plants.

More:Finance

Recommend

North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference

The AP Top 25 college football pollis back every week throughout the season!Get the poll delivered s

Meme stocks are roaring again. This time may be different

NEW YORK (AP) — Meme stocks are shaking Wall Street once again. That shouldn’t be much of a surprise

Jon Rahm ditched the PGA Tour for LIV Golf. So why is he talking like a PGA fanboy?

Maybe Jon Rahm knows something the rest of us don’t. Or maybe he’s the biggest sucker in professiona