Teka77/iStock editorial via Getty Images
More than 1,000 members of two local unions at CNH Industrial (NYSE:CNHI) factories in Wisconsin and Iowa reached a new labor agreement Saturday, ending a strike that has been ongoing since May, the the United Auto Workers union said.
The UAW did not reveal further details of the vote; the company had said an earlier offer that was rejected two weeks ago included increases of 28% to 38% over four years, which workers say did not cover skyrocketing inflation or health insurance costs.
The CNH (CNHI) strike, which began in May after a six-year contract at the facility expired, was one of the longest in the recent wave of strikes since the COVID-19 pandemic.
CNH Industrial (CNHI) revenues should benefit from strong demand in the agriculture and public construction end markets, more than offset weaker residential and commercial end markets, writes GS Analytics in an analysis published in Seeking Alpha.
