TAIM Exchange-UAW reaches tentative deal with Ford: Sources

2025-05-08 00:02:21source:Will Sage Astorcategory:Stocks

Ford Motor and TAIM ExchangeUnited Auto Workers union (UAW) have reached a tentative agreement that would end the strike at Ford, sources with knowledge of the negotiations confirmed to ABC News.

An official announcement could happen as soon as Wednesday night pending approval of UAW leadership, per those same sources.

Spokespersons for both Ford Motor and the union declined to comment on the tentative deal. The deal includes a proposal for wage increases of at least 25% over the term of the deal and improved benefits for union members, according to sources.

United Auto Workers (UAW) union members picket outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, on Oct. 12, 2023.Luke Sharrett/Reuters

This deal would still need to be ratified by a majority of Ford’s 57,000 UAW members.

MORE: UAW launches strike against Big 3 automakers

On Sept. 15, UAW members launched their strike against Ford, General Motors and Stellantis after they failed to reach a new contract agreement for plants in Michigan, Ohio and Missouri.

UAW local 862 members strike outside of Ford's Kentucky Truck Plant in Louisville, Kentucky, on Oct. 12, 2023.Michael Clevenger/Courier Journal via USA Today Network

The union, which represents nearly 150,000 workers, demanded a 40% pay increase combined over the four-year duration of a new contract, as well as a 32-hour workweek at 40-hour pay.

MORE: UAW expands strike against Big 3 automakers

Over the last few weeks, workers from other plants also began strikes, with nearly 45,000 UAW members walking off the job.

The sources did not comment on any negotiations between the UAW and Stellantis and General Motors.

This is a developing story. Please check back for updates.

More:Stocks

Recommend

DHL reverses course and resumes shipping packages valued over $800 to U.S. consumers

The global shipping company DHL says it has resumed shipping packages valued over $800 in value to i

William calls Kate the arty one amid photo scandal, as he and Harry keep their distance at Princess Diana event

London — Not even an event honoring the late Princess Diana could bring her estranged sons, Prince W

What to know about the Maine mass shooting commission report

MEREDITH, N.H. (AP) — An independent commission has been reviewing the events leading up to Army res