Ford, UAW negotiators reach tentative labor deal – sources

United Auto Workers (UAW) union members picket outside Ford’s Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. Oct 12, 2023. REUTERS/Luke Sharrett//File photo

Ford Motor and the negotiators of the United Auto Workers (UAW) union have reached a tentative labor deal, pending union leadership approval, three sources familiar with the matter said on Wednesday.

A deal would be the first settlement of strikes against Ford, General Motors and Chrysler-parent Stellantis.

The deal is expected to provide a 25-percent wage hike through the life of the contract, including 11 percent to start, one of the sources said.

READ: US auto workers’ strike: What are the implications?

More than 45,000 union members working at the Detroit Three automakers have joined walkouts that began on Sept. 15.

CNBC earlier reported the tentative deal.