Last month, United Auto Workers walked off the job at John Deere plants after disagreeing on a contract offer from the company, which included 5 and 6% raises for employees and 3% raises in 2023 and 2025. The last time there was a strike against John Deere by the UAW was in 1986 and lasted for 163 days.
After rejecting the contract, John Deere went back to the drawing board and met with UAW representatives to agree on a new contract. Fox News says the agreement has to get approval from UAW workers in order to take effect.
The new six-year agreement would give 10% wage increases in the first year and 5% raises in the third and fifth year. In addition to the raises, the contract includes an $8,500 ratification bonus along with more money throughout the six years. The new plan also continues the pension program for new employees, which was planned to be cut in the rejected contract. The new proposal also pays more for future retired workers, like a 25-year employee would get an extra $150 a month.
