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The UAW on Friday had rejected revised offers from Stellantis, General Motors (NYSE:GM) and Ford Motor (NYSE:F) before meeting with GM and Ford on Sunday where the negotiators claim to have made progress.
“We are on a good path and remain committed to reaching a tentative agreement without a work stoppage that would negatively impact our employees and our customers,” Stellantis told employees in an email Monday,
The company added that the automaker and UAW subcommittees reached tentative agreements in several areas, including health and safety.
The Detroit Three have proposed increasing the minimum pay for temporary workers to $20 per hour and shortening the time it takes for permanent autoworkers to reach their highest wages from eight years to six years.
The union’s requests consist of an immediate 20% wage increase, followed by four consecutive annual wage increments of 5%, the provision of defined-benefit pensions for all employees, a reduction in workweeks to 32 hours, and additional adjustments for the cost of living.
Previously, Stellantis had suggested providing $10,500 in inflation protection payments over four years, while GM proposed $11,000, and Ford offered $12,000.
Shares of STLA are up 2.19%, while shares of F and GM are down 0.93% and 0.83% respectively in mid-day trading Monday.
