00:00It's Benzinga bringing Wall Street to Main Street.
00:02United Auto Workers members rejected Deere's offer to extend its labor contract by two years,
00:07setting up negotiations when the current agreement expires in 2027, according to the Wall Street
00:13Journal. Deere offered two years of 4% wage increases and $3,000 bonuses while keeping
00:20pensions, health care, and other benefits unchanged. UAW President Sean Fein criticized
00:26the proposal for failing to address job security, outsourcing, and the return of 1,600 laid-off
00:32workers. Deere said the extension would have provided stability as equipment demand remains
00:37weak. The union submitted a counteroffer in July that Deere said would cost about $500 million more.
00:44Deere workers last went on strike in 2021 before approving a six-year contract.
00:50For all things money, visit Benzinga.com.
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