The United Auto Workers (UAW) members at Stellantis NV (NYSE:STLA), the parent company of Chrysler, reportedly ratified a labor agreement, marking a pivotal moment in the auto industry’s labor relations.
The ratified deal garnered support, with approximately 68% of UAW members voting in favor, translating to a margin of over 9,600 votes, reported Reuters.
The finalization of the vote is still pending from a few small locals, but the majority approval signifies a major victory for the union and its members, the report added.
This agreement ensures a substantial 25% wage increase for workers, locked in through April 2028.
The deal’s approval follows a coordinated six-week strike campaign across the Detroit Three automakers, spotlighting the need for enhanced wages and benefits for auto workers.
In parallel developments, workers at General Motors Co (NYSE:GM) have also voted in favor of a similar agreement.
Meanwhile, Ford Motor Co (NYSE:F) is witnessing a strong inclination towards approval among its UAW workers, with the current voting margin exceeding 10,000 in favor, the report noted.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Via UAW
