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The strike will continue and 55% of the workers voted down the agreement, UAW added.
Workers at 12 facilities in Illinois, Iowa and Kansas rejected the second tentative agreement, Deere (NYSE:DE) said.
The company would have invested an additional $3.5 billion in its employees through agreements reached with UAW, Deere Chief Administrative Officer Marc Howze said.
The latest agreement provided for a 10% rise in wages this year, 5% in 2023 and 2025, as well as lump sum bonuses amounting to 3% of their pay for 2022, 2024 and 2026, according to UAW.
This was an improvement to last month’s agreement, which was rejected overwhelmingly by the workers. It provided for 5% to 6% wage rise this year and 3% raises in 2023 and 2025 along with a 2% lump sum bonus.
The workers then went on strike, demanding better terms from Illinois-based Deere.
The company in August forecast fiscal 2021 net income between $5.7 billion and $5.9 billion, up from its previous outlook of $5.3 billion to $5.7 billion.
