Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Deere workers go on strike after UAW fails to reach deal

10/14/2021 | 01:47am EDT
The leaping deer trademark logo is seen on a sign outside a John Deere dealership in Taylor, Texas

(Reuters) -Thousands of Deere & Co workers began a strike on Thursday, the United Auto Workers (UAW) said, days after overwhelmingly rejecting a six-year labor contract that was agreed on with the tractor maker.

Earlier this month, the world's largest farm equipment maker and the UAW union reached an agreement after weeks of negotiation on wages and other benefits, but 90% of the union's workers voted against the deal.

The tentative deal covered about 10,000 production and maintenance employees across 14 facilities in the United States.

"Pickets have been set up, and our members are organized and ready to hold out and fight for a contract they believe meets their needs," Ron McInroy, director of UAW Region 4, said on Thursday.

Separately, Deere said it remained committed to reaching a new agreement, adding that it had not yet estimated when it would complete negotiations.

The now-rejected offer would have given 5% wage hikes for some workers and 6% for some others. The proposed deal had also called for 3% raises in 2023 and 2025.

The workers understand that they had to make concessions on some benefits in the past and now they want to get some of it back at a time when Deere is doing "very well financially" and labor shortages persist industry-wide, a source familiar with the talks told Reuters.

Deere, which has about 27,500 employees in the United States and Canada, had earlier said its operations would continue as normal.

The strike is set to take place in the middle of the U.S. corn and soybean harvest season, at a time when farmers are struggling to find parts for tractors and combines.

The last strike against Deere by the UAW was in 1986 when workers sat out for 163 days.

The company, due to report full-year results late November, has forecast a record net income of $5.7 billion to $5.9 billion.

(Reporting by Abhijith Ganapavaram in Bengaluru; Additional reporting by Shubham Kalia; Editing by Sweta Singh, Maju Samuel and Ramakrishnan M.)

© Reuters 2021
Latest news "Economy & Forex"
05:36aPETRONET LNG : Qatar Energy says it is committed to being trusted supplier to India
05:29aBP calls for investment in long-term energy deals, storage to meet future demand
05:26aUK faces energy 'massacre' of 20 more bust suppliers, Scottish Power says
05:23aSemiconductor squeeze forces ABB to shrink sales outlook
05:18aUmunna says JPMorgan to keep funding fossil fuel companies
05:18aMiners, weak earnings drag European stocks lower
05:16aEU should consider sinking fund to manage COVID-19 countries debt -ECB'S Visco
05:13aCeo of spain's bankinter says bank is commited to reach net profit target of around 550 mln by 2023
05:08aEUROPE GAS-Prices fall as drop in coal markets offsets higher demand
05:03aSterling dips as risk currencies' rally pauses
Latest news "Economy & Forex"