UAW justifies wage demands by pointing to CEO pay raises. So how high were they?
NEW YORK (AP) — It’s been a central argument for the United Auto Workers union: If Detroit’s three automakers raised CEO pay by 40% over the past four years, workers should get similar raises.
UAW President Shawn Fain has repeatedly cited the figure, contrasting it with the 6% pay raises autoworkers have received since their last contract in 2019. He opened negotiations with a demand for a similar 40% wage increase over four years, along with the return of pensions and cost of living increases. The UAW has since lowered its demand to a 36% wage increase but the two sides remain far apart in contract talks, triggering a strike.
Fain’s focus on CEO pay is part of a growing trend of emboldened labor unions citing the wealth gap between workers and the top bosses to bolster demand for be...