A senior executive at Ford emphasized on Thursday that the company has reached the maximum limit of what it can afford in terms of increased wages and benefits for the United Auto Workers (UAW). Kumar Galhotra, the head of Ford's combustion vehicle unit, expressed concern during a conference call, stating that further concessions would hinder the company's capacity to invest in its business.
Ford, $F, says its offer of a 23% raise to the United Auto Workers is the best that it can do and that going any higher would hurt the company
10/13/2023
Galhotra acknowledged that Ford is willing to explore reallocation within its existing proposal during ongoing negotiations with the UAW to reach a mutually agreeable deal. Additionally, he mentioned that Ford is actively collaborating with the UAW to incorporate workers from joint-venture electric vehicle battery plants into the UAW-Ford agreement.
The UAW, under the leadership of President Shawn Fain, initiated a strike at Ford's Kentucky Truck factory after the company's negotiators failed to present an improved contract proposal. Fain informed on Thursday that UAW negotiators are now focusing on discussions with Stellantis, the parent company of Chrysler. Fain expressed hope for more productive talks with Stellantis compared to the recent negotiations with Ford. Stellantis has not provided an immediate comment on the matter.
The ongoing standoff between the UAW and Ford has the potential to impact a substantial number of workers, extending beyond the approximately 34,000 Detroit Three employees directed by Fain to go on strike since September 15.
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