Ford provides counteroffer to UAW as strike date nears
UAW president calls GM's offer insulting one week before labor deal expires
Next Thursday, the UAW labor agreement expires and hundreds of thousands of union members could walk off the job. This week, General Motors offered a proposal to the UAW but president Shawn Fain said the proposal wasn't nearly enough and the automaker needs to stop wasting time.
DETROIT (FOX 2) - Ford Motor Co. provided United Auto Workers with a counteroffer Thursday as automakers and the union continue to bargain under the threat of a strike.
The automaker's previous offer was rejected by the UAW last week.
That rejected offer included a 15% guaranteed combined increase in wages and better benefits over the life of the contract. Also, wages along with overtime and bonuses, would jump from under $80,000 last year to $92,000 in the first year of the deal.
UAW strike would hit Michigan hardest as union passes on GM offer
An analysis of a strike for even 10 days would mean $5 billion in losses.
Though the specifics of Ford's new deal aren't yet known, the UAW is asking for a 46% pay raise, a 32-hour work week with 40 hours of pay, and restoration of traditional pensions for new hires, among other demands. See what they want here.
The union and Big Three have until 11:59 p.m. Sept. 14 to reach an agreement. UAW President Shawn Fain has said that union employees plan to strike against any automakers that haven't reached a deal by then.
On Thursday, Fain slammed an offer given to the UAW by General Motors, saying that it was "an insulting proposal." Stellantis is expected to provide a contract proposal by the end of the week.