Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
The United Auto Workers union has announced a tentative agreement to end a nine-week strike with Stellantis, the auto giant created after the merger of Fiat Chrysler and PSA Group.
The agreement, which was ratified by both sides on Sunday, includes a new $9 billion investment in U.S. factories, a 3% wage increase, an $8,000 signing bonus for workers, and the end of a two-tier wage system.
“After more than nine weeks, I am pleased to announce that the UAW and Stellantis have reached a Tentative Agreement that is good for our members, our communities and our country,” said UAW President Rory Gamble.
The agreement still needs to pass a vote by union members, which is expected to happen in the coming days. If ratified, the strike, which began on September 16, will officially end and workers will return to their jobs.