Deere & Company
"John Deere and Company has made a last, best and final offer to the UAW negotiating team that includes modest modifications to the last tentative agreement presented for ratification on November 2nd," the UAW announced on Friday. "As a result, the UAW will present the Company's offer for ratification and, as has been the case throughout the bargaining process, will support the outcome as determined by our members."
The strike facing John Deere began back in October after unionized factory workers overwhelmingly voted down a proposed contract. Despite initial optimism by the UAW's negotiating team, signs that John Deere's 10,100 unionized workers were discontent had become apparent as far back as 2015, when the previous contract barely passed. The company's second offer was also rejected by workers, albeit by much tighter margins.
As is the case across similar strikes currently ongoing and since completed, the Coronavirus pandemic's pressures pushed workers to their breaking point. Workers from Kellogg's
The language of "last, best and final offer" and the cold reception from striking workers could indicate probable trouble ahead. Workers reported that, while they don't have hard details on the offer yet, from what they are aware of, the company's latest offer "isn't much better." Some workers commented that they aren't seeing the wage increases they desire and point to the company's record-breaking profits in 2020, noting that they don't believe John Deere is negotiating in good faith.
An impasse may develop if this truly is Deere & Company's last offer, and the offer is voted down. In this case, litigation will likely intensify, and the National Labor Relations Board would likely become more deeply involved.
Despite a hefty pre-market boost, Deere & Company shares looked to be sliding down a bit during trading on Monday. Shares slipped by 0.63% by 2 p.m. but were still up 0.53% from last week's close.
