XM does not provide services to residents of the United States of America.

UAW workers ratify US labor deal with Daimler Truck



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UPDATE 1-UAW workers ratify US labor deal with Daimler Truck</title></head><body>

Adds details, background throughout

By David Shepardson

May 4 (Reuters) -Members of the United Auto Workers on Saturday ratified a new labor contract with Daimler Truck DTGGe.DE that includes at least a 25% general wage increase over the four-year deal.

The vote was 94.5% in favor of the new contract, which covers more than 7,300 hourly UAW workers after a tentative agreement was reached in late April, averting a strike at the 11th hour.

The contract covers hourly workers at six facilities in southern states where unionization has traditionally been low, including four factories in North Carolina and parts warehouses in Georgia and Tennessee.

The deal with the German truck maker, which was spun off from what is now automaker Mercedes MBGn.DE, comes just about two weeks before votes on whether to join the UAW will be tallied at a Mercedes assembly plant in Alabama.

The deal also includes profit-sharing and cost-of-living adjustments for workers at the maker of Freightliner and Western Star trucks and Thomas Built buses as well as the end of wage tiers that paid those building buses less than those building heavy trucks.

UAW President Shawn Fain said the pay hike matched what workers at the Detroit Three received in talks last fall.

Workers will receive an immediate 10% pay raise, followed by 3% increases six months and 12 months later, Fain said.

The lowest paid workers at Daimler's Thomas Built bus unit will receive raises of more than $8 an hour and some skilled trades workers at there will get more than $17 an hour, Fain said.

Since the deals last fall with the Detroit Three, the UAW has turned its efforts to organizing non-union U.S. plants of more than a dozen automakers.

The UAW clinched a historic victory at a Volkswagen VOWG_p.DE auto plant in Chattanooga, Tennessee, last month, and workers at a Mercedes auto factory in Vance, Alabama and a nearby battery plant in Woodstock, are going to vote on whether to join the union during the week of May 13.



Reporting by David Shepardson in Washington and Gursimran Kaur in Bengaluru; Editing by Cynthia Osterman and William Mallard

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.