The United Auto Workers reached a tentative agreement with Daimler Truck Holding ahead of a contract expiring at midnight on 26 April.
The agreement includes pay increases of more than 25% over the next four years, the end of wage tiers and the introduction of profit sharing and cost of living allowances for 7,300 Daimler workers, the union said in a statement cited by Bloomberg.
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“When this deal is ratified, you’ll get a 10% raise,” UAW President Shawn Fain reportedly said in his prepared remarks. “Six months later, another 3%. Six months after that, another 3%. That’s a 16% raise in the first year of the deal, alone.”
