This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXMPEA601RR_M.jpg
Citing people familiar with the matter, the publication stated that 30% is the level the union feels will satisfy existing members and organize non-union plants. It is lower than the around 40% hike it initially proposed to Ford Motor (NYSE:F), General Motors (NYSE:GM), and Stellantis (NYSE:STLA).
The percentage rise takes into consideration a cost-of-living allowance and a general wage increase, according to Bloomberg’s sources.
In addition, it is believed that a 30% wage increase would generate interest from non-unionized auto workers and help increase the union’s membership.
Bloomberg added that the union’s president, Shawn Fain, is aiming to expand the UAW by arranging future electric-vehicle battery plants and targeting workers at Tesla (NASDAQ:TSLA) and the US plants of Asian and European automakers, with its membership having declined to 400,000 from over 1 million in the 1970s.
Ford has offered a 20% pay increase with cost of living payments on top, while the UAW has lowered its demand for pay increases to 36%.
