(Reuters) - Workers at Ford (NYSE:F)'s Chicago assembly plant have voted to ratify a proposed contract with the automaker, the United Auto Workers (UAW) union's local chapter said on Wednesday.
Union workers are voting on contracts from each of Chrysler-owner Stellantis (NYSE:STLA), General Motors (NYSE:GM) and Ford after the first coordinated strike against Detroit's Big Three automakers.
The ratification comes after the automakers and the UAW reached tentative deals over the last few weeks to end a costly strike following marathon negotiations.
Following is a roundup of tentative agreements and demands from the UAW:
Criteria UAW's demands GM Ford Stellantis
Battery-produc Contracts for Workers Workers To build two
tion workers workers at EV covered by covered by new battery
battery contract contract plants in
plants Kokomo, to
locate a new
battery
plant in
Belvidere
Cost of living Wanted COLA Restored Restored Restored
allowances to be
(COLA) restored
Base-wage hike 40% 25% 25% 25%
Ratification N/A $5,000 $5,000 $5,000
bonus
Right to Had demanded Yes Yes Yes
strike over
plant closures
Equal wage Tier-system Yes Yes Yes
scale (no among
tiers) employees
eliminated
Temp employees Better All new temps All new All new
benefits for converted to temporary temporary
temp "in-progressi employees employees
employees on" after 9 converted converted to
months to "in-progress
"in-progre ion" after
ssion" 9 months
after
9 months
Work-life More paid All employees 200 hours N/A
balance time off for with 20 years vacation
workers or
more of
service are
eligible for
200 hours of
vacation
Retirement Improved Improves Increased Improves
benefits retirement contributi retirement
for current ons to for current
retirees, 401(k) retirees,
those workers individual those
with retirement workers with
pensions, and plans of pensions,
those who current and those
have 401(k) workers who have
plans. and 401(k) plans
increased
pension
payments
for
current
retirees
Reduced Demanded a Not covered Not Not covered
working hours 32-hour work covered
week
Source: UAW statements