Chysler union members vote in favor of UAW deal
Earlier this week, GM union members voted to approve a proposed labor contract. Friday another vote sealed the deal for another company.
The latest round of labor strife in the U.S. auto industry took another step toward labor peace Friday after United Auto Workers union members at Chrysler parent Stellantis (STLA) - Get Free Report voted to approve a new labor contract.
The agreement comes a day after UAW members at General Motors (GM) - Get Free Report plants also narrowly voted to approve their labor contract with nearly 55% of union members voting in support of the deal, according to preliminary figures.
Related: GM, UAW agree to labor peace after close vote
Ford UAW members are expected to also ratify their agreement with the company Friday, with preliminary results suggesting strong support in favor of coming to a deal.
About 67% of the 31,231 Ford UAW members that have voted have done so in favor of the deal, according to the union's live vote tracker. Meanwhile, nearly 70% of Stellantis' hourly and salaried workers combined to vote 'yes' on the latest contract.
The new contracts at each of the Big Three automakers prominently feature 25% wage increases, down from the 40% increases the union was initially demanding. The contracts also grant workers cost-of-living adjustments, larger retirement contributions and better benefits, among other protections.
Earlier this month, the worker strikes that had lasted for more than a month came to an end after the union and the automakers came to tentative agreements on a deal, and the votes are the final step in a process to usher in at least 4-1/2 years of labor peace.
While the Stellantis and Ford agreements have been expected for a while, the agreement between GM and the union has been more contentious, thanks in part to the demographics of that company's workforce.
GM reportedly employs more traditional workers — as opposed to temporary workers — than its rivals in the Big 3 do, CNBC reported.
So those workers want what UAW President Shawn Fain has promised in the past: a 32-hour workweek and better retirement benefits.
Seven of GM's 11 assembly plants rejected the deal early Wednesday morning, placing the 'yes' outcome firmly in doubt before Thursday's tally cleared the way.
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