Ford CEO Jim Farley delivered an update regarding ongoing negotiations with the UAW in Detroit. Farley addressed reporters following the unveiling of the new F-150 in Hart Plaza on the evening of Tuesday, September 12.
His remarks come with the looming deadline of less than two days away, set for 11:59 p.m.
“Today, we presented our most generous offer,” Farley stated. “This offer encompasses significant enhancements, including the elimination of tiers, inflation protection, a five-week vacation, 17 paid holidays, and increased retirement contributions, marking the first pay increase in 80 years for UAW members at Ford. We remain optimistic about reaching an agreement, but it’s important to acknowledge that there are limits. We must safeguard our future investments and ensure the company’s profitability, as we are the largest employer in the U.S. automobile manufacturing sector. This holds immense significance for everyone involved.”
As of Tuesday, negotiations were still in progress, with indications of some progress reported by Local 4.
It’s worth noting that no deals have been finalized with any of the three companies: Stellantis, General Motors, or Ford Motor Company. Currently, the most substantial wage increase proposal on the table is from Stellantis, offering more than a 14% increase over four years. This figure is considerably below the UAW’s initial demand of 36%, which was later revised to 40%.
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