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this post was submitted on 17 Sep 2023
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For anyone that wants to say 21% is a ton, remember this is over the 4 year contract. This is the equivalent of 5% a year. Also, the last 3 years alone, there has been 18% inflation, and the last contract just didn’t keep up with that.
This trend of news outlets reporting multi year raises as just "x%" is infuriating and very good manipulation on the part of the CEOs. They know most people won't read on to see the difference.
And IIRC this is after making a bunch of concessions during the previous contract negotiation where they forgoed pay raises which was only supposed to be a temporary measure. This was nearly a decade ago.
When the automakers were facing bankruptcy. The unions just want back the benefits they had before.
Yep it seems like when times are tough, these companies want to claw back whatever money they can. When times are good, these companies want to claw back whatever money they can.
And they aren't even asking to have the companies make up for all that they lost either, just getting back on track.
Forwent?
Not even 5%, 4.88%