The tentative agreements, to be voted on in the coming weeks, include a 25% general wage increase over four years. By the end of the contract’s term in 2028, most of the Detroit companies’ unionized workers would make in the mid-$80,000s annually, before overtime pay.
Today, the Detroit carmakers’ all-in hourly labor costs—a measure of how much they spend per worker on wages and benefits—is in the mid-$60s, compared with an estimated $45-$55 for Tesla and foreign automakers. By the end of the four-year contract, the Detroit companies’ costs would balloon to $87 to $90 per hour, according to a Wells Fargo estimate based on Ford’s pact. Ford said the UAW contract would add $850 to $900 in expenses per vehicle.
www.aiada.org/news/first-up/detroit-paying-up-end-the-uaw-strike-now-carmakers-will-live-the-costs
h/t CharlieFoxtrot