fbpx
Connect with us

Iowa

Deere workers would get immediate 10% raises under new offer

Published

on

FILE - Members of the United Auto Workers strike outside of a John Deere plant, Wednesday, Oct. 20, 2021, in Ankeny, Iowa. About 10,000 UAW workers have gone on strike against John Deere since last Thursday at plants in Iowa, Illinois and Kansas. (AP Photo/Charlie Neibergall)

MOLINE, Ill. (AP) — Union workers at Deere & Co. would get wage increases of 10% in the first year and 5% each in the third and fifth years under a tentative contract reached between the farm-equipment maker and the United Auto Workers union.

The workers would get 3% lump sums in the second, fourth and sixth years of the deal. They would also get a ratification bonus of $8,500 and no changes in the cost of their health insurance, according to a summary of the agreement posted Sunday on the union website.

The company and the UAW reached a tentative agreement Saturday that would cover more than 10,000 workers at 12 Deere locations in Iowa, Illinois and Kansas. However, a strike that began Oct. 14 will continue while workers review the terms of the deal ahead of a ratification vote.

Union members previously rejected a proposed contract that included immediate 5% raises for some workers and 6% for others, and 3% raises in 2023 and 2025.

The Moline, Illinois-based company reported $4.7 billion in net income for the first nine months of its fiscal year, more than double the $2 billion of the same period a year earlier.

A labor shortage affecting many industries also gave workers more leverage to demand better pay and benefits.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.