UAW members at Allison Transmission vote to ratify new four-year contract

Allison Transmission Holdings

17/01/2024 15:05

Jan 17 (Reuters) - UAW members at Allison Transmission's
 ALSN.N  Indianapolis facilities voted to ratify a new labor
agreement, adding to the union's recent list of victories
including record wage hikes for workers at the Detroit Three
automakers.
    Nearly 82% of workers voted in favor of the proposed
four-year deal, which guarantees a starting wage of $20 an hour
along with retroactive pay hikes, 6-8% gains for 401k
contributions  and two bonuses amounting to $7,000, the union
said on Wednesday.
    The International United Automobile, Aerospace and
Agricultural Implement Workers of America (UAW) Local 933
represents about 1,600 employees at Allison. 
    The deal also brings an end to wage tiers and an increase in
legacy pensions to $59.45 by the end of the contract.
    "We believe that this agreement not only reflects our shared
values but also paves the way for a strong future of continued
growth," Allison CEO David Graziosi said in a statement.
    The workers at the company's Indianapolis facilities had
been bargaining with the automatic transmissions and electrified
propulsion systems maker for improved terms after their existing
labor contract expired on Nov. 14, 2023.
    

 (Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Anil
D'Silva)
 ((Aatreyee.Dasgupta@thomsonreuters.com;))