The union says that nearly 4,000 of the truck maker’s workers in Pennsylvania, Maryland, and Florida struck a tentative deal just before a deadline.
The United Auto Workers reached a labor agreement with Volvo Group’s Mack Trucks late Sunday, avoiding a potential strike.
While the details of the deal are yet to be released, it does show that it is possible to reach an agreement—and quickly—if need be. The union said Thursday that it and Mack Trucks were still “far apart on the economics,” and yet an agreement was reached just days later. The level of wage increases with the Mack deal will be closely watched, like the Ford Canada deal, but investors should remember that labor agreements, and past contracts, differ between truck manufacturing and the Detroit Big Three auto makers, so whatever deals Ford, Stellantis, and GM reach may well be different from the new UAW-Mack deal.
Another UAW walkout would have diverted funds away from the union’s strike fund. The last-minute deal, therefore, ensures more funds are available for the Ford, GM, and Stellantis strikes.
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