DETROIT — Ford Motor Co. CEO Jim Farley late Tuesday mentioned the corporate’s newest contract proposal offered to the UAW is the “most beneficiant provide in 80 years” and contains a lot of union priorities, though a four-day work week isn’t amongst them.
Farley, talking after Ford launched the freshened 2024 F-150, mentioned the corporate is providing the UAW pay will increase, the elimination of tiered wages, inflation safety, 5 weeks of paid trip, 17 paid holidays, larger contributions for retirement and investments in every of its U.S. vegetation.
He didn’t present specifics.
“It is a important, important enhancement,” Farley mentioned. “I am nonetheless optimistic we’ll get a deal however there’s a restrict as a result of we’ve to guard for the long run and future investments, and the profitability of the corporate funds these.”
Ford’s most up-to-date public proposals name for 16 % wage beneficial properties, together with bonuses, over the lifetime of the contract, in addition to a $6,500 ratification bonus.
Farley mentioned the automaker isn’t bending to all the union’s calls for.
“A four-day work week isn’t containable,” he mentioned. “We’re actually combating for the way forward for automotive manufacturing in our nation. However we’re optimistic we’ll discover a approach ahead. We’ve 48 hours to go however we’re not going to help a four-day work week.”
Farley mentioned negotiating groups are working around-the-clock to succeed in a deal earlier than the Sept. 14 deadline and that he is met on the desk with UAW President Shawn Fain.
He mentioned Ford is “completely prepared for a strike” however he hopes it doesn’t come to that.
“We have made lots of progress however we’ve extra to do,” Farley mentioned. “My workforce…is working all day and all night time for the following 48 hours. They’re sleeping within the firm headquarters to get this accomplished.”
The UAW might choose to strike focused auto vegetation if it fails to succeed in new contracts with the Detroit 3 earlier than this week’s deadline, sources instructed Reuters on Tuesday.
Fain has vowed to name strikes at Basic Motors, Ford and Chrysler mother or father Stellantis if no deal is reached when the present four-year labor offers protecting 146,000 U.S. employees expire on Thursday at 11:59 p.m. EDT.
The UAW is contemplating initially focusing on just some particular vegetation for work stoppages on the three Detroit automakers, two sources briefed on the matter mentioned, including the strike plan might nonetheless change.
One UAW native described the plan on Fb as a “get up strike.” Fain, who briefed native unions on the talks on Tuesday, is about to announce the union’s strike plan on Wednesday night. The Detroit Free Press reported the plan earlier.
Concentrating on strategic vegetation might shortly drive automakers to halt U.S. manufacturing and will prolong the time earlier than the UAW’s $825 million strike fund is exhausted.
Coordinated strikes would mark the first-ever simultaneous labor stoppage in any respect three Detroit automakers and one of many largest U.S. industrial labor actions lately.
The UAW on Friday rejected revised affords from Stellantis, GM and Ford. GM made a brand new provide to the UAW over the weekend, however the particulars weren’t instantly out there.
“We have made lots of progress over the previous few days,” GM President Mark Reuss mentioned on the Automotive Information Congress in Detroit. “The give and take is absolutely taking place.”
Reuters contributed to this report.