With a deadline looming just before midnight, the United Auto Workers union and Detroit’s three automakers are far apart in contract talks and the union is preparing to strike.
Ford CEO Jim Farley countered that his company has made four offers without getting a “genuine counteroffer.” The company said it was waiting for one Thursday, a departure from the usual last-minute flurry of bargaining. Executives said they aren't optimistic about avoiding a strike.
Automakers contend that they need to make huge investments to develop and build electric vehicles while still building and engineering internal combustion vehicles. They say an expensive labor agreement could saddle them with costs that would force them to raise prices above their non-union foreign competitors. And they say they have made fair proposals to the union.
If there’s no deal by the end of Thursday, union officials will not bargain on Friday and instead will join workers on picket lines, he said. The companies have upped their initial wage offers, with Ford and GM now at 20%, and GM offering 10% in the first year. Fain said in a statement that the union is evaluating the GM offer and will respond. Stellantis' last known offer was 17.5%, but the company has since made another offer.
Thomas Kochan, a professor of work and employment at the Massachusetts Institute of Technology, said both sides are going to have to make big compromises quickly in order to settle the disputes before the Thursday deadline.
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