Daimler Truck, United Auto Workers strike deal, averting strike

seekingalpha04-27

The United Auto Workers reached a last-minute deal for more than 7,300 workers at Daimler Truck (OTCPK:DTRUY) North America late Friday, averting a strike that was set to start at midnight when their ...

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As part of the agreement, Daimler Truck , which manufactures Freightliner and Western Star trucks, will offer a minimum 25% general wage increase over four years for its workers, among other benefits. Employees will also be entitled to cost-of-living adjustments and profit-sharing, both for the first time at Daimler Truck  since workers there joined the UAW. The four-year tentative agreement still needs to be ratified by union members. In March, about 96% of the Daimler Truck workers at its facilities in North Carolina, Georgia, and Tennessee voted for a strike at the German truckmaker, which was spun off in 2021 from Mercedes . 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As part of the agreement, Daimler Truck (OTCPK:DTGHF), which manufactures Freightliner and Western Star trucks, will offer a minimum 25% general wage increase over four years for its workers, among other benefits. Employees will also be entitled to cost-of-living adjustments and profit-sharing, both for the first time at Daimler Truck (OTCPK:DTRUY) since workers there joined the UAW. The four-year tentative agreement still needs to be ratified by union members. In March, about 96% of the Daimler Truck workers at its facilities in North Carolina, Georgia, and Tennessee voted for a strike at the German truckmaker, which was spun off in 2021 from Mercedes (OTCPK:MBGAF). 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