UAW President: Tentative Agreement with Ford Reached — 'GM And Stellantis Up Next'
Portfolio Pulse from Anan Ashraf
United Auto Workers (UAW) has reached a tentative agreement with Ford Motor Co (NYSE:F), potentially ending a six-week strike. The agreement includes a 25% general wage increase, an immediate 11% wage increase upon ratification, reinstatement of Cost-of-Living Allowances, and a three-year Wage Progression. Ford confirmed the agreement and is focused on restarting operations at several plants. The company is expected to report its Q3 earnings after market close.
October 26, 2023 | 3:01 am
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POSITIVE IMPACT
The tentative agreement between UAW and Ford could end the ongoing strike, allowing Ford to restart operations at several plants. This could potentially improve Ford's production and financial performance in the short term.
The strike has likely affected Ford's production and financial performance. The tentative agreement, if ratified, could end the strike and allow Ford to restart operations, potentially improving its production and financial performance. However, the impact will depend on the final ratification of the agreement and the speed at which operations can be restarted.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100