“Big Three Automaker Strike Ends with UAW and Ford Deal!

On October 25, 2020, the United Auto Workers union and Ford Motor Company reached a tentative agreement that could potentially end a strike at the Big Three Automaker. The strike began in mid-September, and has involved over 50,000 unionized employees. The nature of the agreement was not made public, but the agreement could provide the union and company members with a “substantial” wage increase and improved benefits. The tentative agreement now must be voted on by union members before it can be finalized. This comes after months of failed negotiations between the two sides. The strike has had far-reaching effects, with production of Ford’s top-selling F-150 pickup truck severely reduced. The delays and disruption caused by the dispute are estimated to cost Ford Millions of dollars. The effects of the strike were largely felt by local economies that depend on Ford’s production for jobs and revenue. Ford’s plants located in Michigan, Texas, Kansas, and Kentucky have been particularly hard hit. While many are hoping for a speedy resolution, the strike could potentially drag on for a few more weeks. This will become clearer once the union ratifies the agreement. If the agreement passes, the strike could end as quickly as it began. This tentative agreement between the UAW and Ford Motor Company comes at a critical time for both the Big Three and the entire automotive industry. It sets the tone for negotiations between other automakers and the UAW in the coming months, and will heavily influence the competitive landscape of the US auto market for years to come.