Stellantis NV reached a tentative contract agreement with the United Auto Workers to end a six-week strike, following the lead of Ford Motor Co., according to people familiar with the negotiations.
The deal includes a 25% hourly pay raise plus cost-of-living allowances over the more-than-four-year contract, matching Ford’s agreement earlier this week, said the people, who weren’t authorized to talk publicly.
Stellantis also agreed to concessions on job security including keeping an engine plant open in Trenton, Michigan, and building a vehicle in the company’s idled Illinois assembly plant, the people said.
The deal must next be approved by union leadership and then voted on by the company’s union members, a process that could take weeks.
Talks at General Motors Co. continue and the two sides are trying to get a deal this weekend, the people said.
Read More: GM, Stellantis Agree to 25% UAW Pay Hike as Sides Near Deal
Author: Gabrielle Coppola, David Welch and Josh Eidelson
