Striking John Deere workers vote on third tentative deal
The UAW members have been picketing for more than a month
Hanesbrands CEO predicts 'months' before supply chain improves
Steven Bratspies, CEO of Hanesbrands, discusses the factors contributing to the backlog in the supply chain.
Striking John Deere employees represented by the United Auto Workers stood down from their picket lines Wednesday to vote on a third tentative deal reached by union and company negotiators.
The results are expected to be counted by evening, and could end the 10,000 workers' strike that began more than a month ago.
Members of the United Auto Workers strike outside of a John Deere plant, Wednesday, Oct. 20, 2021, in Ankeny, Iowa. (AP Photo/Charlie Neibergall, File) ( (AP Photo/Charlie Neibergall, File) / AP Newsroom)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DE | DEERE & CO. | 489.98 | -5.81 | -1.17% |
Deere & Co. had declared that its second offer, which was rejected by 55% of the workers two weeks ago, would be its "last and final," and the agriculture giant largely stuck to that in the third proposal save for some tweaks.
Deere told FOX Business the modest modifications made to the second agreement were directly related to the company's performance pay plan.
EAST MOLINE, ILLINOIS - OCTOBER 14: Workers picket outside of John Deere Harvester Works facility on October 14, 2021 in East Moline, Illinois. (Photo by Scott Olson/Getty Images) ( Scott Olson/Getty Images / Getty Images)
JOHN DEERE SAYS IT WILL DELIVER FOR CUSTOMERS DURING PLANTING SEASON – STRIKE OR NOT
Outside of that, the third contract is largely the same as the second, keeping the $8,500 ratification bonus along with immediate 10% raises followed by 4% raises in years three and five of the six-year contract, and 3% lump sum payments in years two, four and six.
The Deere union employees would also still keep their existing zero-premium health insurance, and new employees would be eligible for health insurance sooner and have a pension option as in the second tentative agreement.
A worker performs maintenance on a Deere & Co. John Deere combine harvester at the Smith Implements Inc. dealership in Greensburg, Indiana (Photographer: Luke Sharrett/Bloomberg via Getty Images) (Luke Sharrett/Bloomberg / Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The strike has impacted a dozen Deere plants spanning Iowa, Illinois and Kansas amid the critical harvest season, a nationwide labor shortage, and ongoing supply chain crisis.
The Associated Press contributed to this report.