UAW members have voted overwhelmingly in favor of a 4½ year contract with Detroit’s Big Three automakers which includes Ford, GM and Chrysler. The agreement secures wages, raises, signing bonuses and investments for workers.
The new contract will cover more than 160,000 employees of the three automakers. It provides workers with a signing bonus of $9,000, “in Arrow and ratify” bonuses of up to $4,500 and an annual three-percent wage increase. Additionally, it will include investments in new jobs as well as healthcare, job security and improved working conditions.
UAW President Rory Gamble said that the agreement increases wages, benefits and job security in what has been a particularly tough year due to the pandemic. He also highlighted the commitment of the automakers to newcomers, saying that this agreement should serve as an example of “how collective bargaining and creative problem solving can produce successful outcomes.”
This contract marks a major victory for UAW workers in the face of the economic uncertainty caused by the coronavirus pandemic. It also highlights the importance of unions as well as collective bargaining and is a reminder that workers still have a voice in the economic decisions that are made for them. This agreement is indicative of a larger trend of increased investment in the labor force, thanks to the UAW and its members.