DETROIT – Ford CEO Jim Farley provided an update on negotiations with UAW.
Farley spoke to reporters after the reveal of the new F-150 in Hart Plaza on Tuesday (Sept. 12) night.
His comments come as we’re less than two days away from the 11:59 p.m. deadline.
“We put an offer in today that’s our most generous offer in 80 years at the UAW and Ford. Pay increases, elimination of tiers, inflation protection, five weeks of vacation, 17 paid holidays, bigger contributions for retirement. So it’s a significant, significant enhancement. Still optimistic that we’ll get a deal, but there is a limit -- and because we have to protect for future investments and the profitability of the company funds those. We’re America’s largest employer of automobile manufacturing in the U.S. It is very important that Ford gets this right,” Ford CEO Jim Farley said.
So far, negotiations continued Tuesday, and Local 4 was told there’s some movement.
There is no deal with any of the companies yet, which are Stellantis, General Motors, or Ford Motor Company.
The highest wage increase on the table right now is more than 14% over four years from Stellantis. That’s still far away from the UAW’s now-decreased demand of 36%, which was originally 40%.
More: Talks between UAW, Detroit Big Three pick up speed as contract deadline looms