Michael B. Thomas
The United Auto Workers (UAW) on Monday announced that employees at Mack Trucks, owned by Volvo (OTCPK:VLVLY), have gone on strike after they rejected a five-year labor agreement that negotiators worked out with the company.
Nearly 4,000 UAW members at Mack Trucks facilities in Pennsylvania, Maryland, and Florida walked out after close to 73% of the union workers rejected the proposed contract.
“I’m inspired to see UAW members at Mack holding out for a better deal and ready to stand up and walk off the job to win it,” said UAW President Shawn Fain.
The rejected deal included a 19% raise over the life of the contract, beginning with a 10% raise in the first year, plus a $3,500 ratification bonus.
However, UAW members were not happy with the pay raises, job security, and work schedules that were proposed. Mack’s President Stephen Roy said they’re surprised and disappointed, but they’re still committed to the bargaining process.
The latest walkout brings the total number of UAW members on strike to over 30,000, spread across 22 states. The Detroit strike against the Big Three automakers – General Motors (GM), Ford (F), and Stellantis (STLA) – has been ongoing since mid-September.