Demonstrators during a United Auto Workers (UAW) practice picket outside the Stellantis Mack Assembly Plant in Detroit, Michigan, US, on Wednesday, Aug. 23, 2023.
The automaker's offer would provide a 14.5% wage increase over the four-year term of the proposed deal for most of Stellantis's roughly 43,000 UAW-represented hourly workers.
The proposed wage increase is larger than those offered to the union by rivals General Motors and Ford Motor, which offered raises of 10% and 9%, respectively.
But the proposed deal still falls well short of the union's demands, which include a 40% hourly pay increase, a 32-hour workweek, and restoration of traditional-style pension plans, among other items.
Only about 30% of Stellantis's UAW-represented workers — those hired before October 2007 — currently have pension plans.
Persons:
Stellantis, —, Mark Stewart, Rich Boyer, Shawn Fain, CNBC's Michael Wayland
Organizations:
United Auto Workers, UAW, Mack Assembly Plant, Detroit, Union, America, CNBC, General Motors, Ford Motor, Stellantis's UAW, GM, Ford, America's
Locations:
Mack, Detroit , Michigan, U.S