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DETAILS ON DEERE'S REVISED LABOR CONTRACT RELEASED
Nov. 2, 2021
by Tyler Jett, Des Moines Register
In its latest offer, Deere & Co. executives doubled wage increases and boosted future retirement payments for United Auto Workers members.
An outline of a new contract between the company and the union released Sunday afternoon shows that 10,100 striking UAW members will receive 10% wage increases, compared to what they made earlier this year. That's up from a 5% or 6% increase that Deere offered in an earlier proposal, which nine out of 10 union members rejected Oct. 10.
The company will also continue its pension program for new hires, which Deere was going to cut under the prior agreement. And, compared to that agreement, the new proposal pays a higher rate for future retired workers. A 25-year employee would see an extra $150 a month.
The company also added lump sum payments that can reach six figures for future retired employees.
Chris Laursen, a 19-year painter at Deere's Ottumwa plant and the former UAW Local 74 president, said he expects to vote in favor of the contract after rejecting the Oct. 10 proposal.
"It's a hell of a lot better than what (the union) got us the first time," he said. "After two weeks-plus of strikes, we definitely made some gains on this."
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