The UAW officially announces that each Big Three contract has been ratified

UAW workers voting on contract in Louisville, Ky.
Photo credit Sam Upshaw Jr./Courier Journal / USA TODAY NETWORK / Imagn

(WWJ) - The UAW strike has officially ended, with the union confirming the ratification of contracts at all three automakers.

GM, Stellantis and Ford all announced tentative agreements last week following votes by union workers.

Ford CEO Jim Farley said the deal added “significant costs” that the company will need to make up. Farley also said there will be a need to work on productivity and efficiency to make Ford more competitive.

LMC Automotive Analyst Jeff Schuster said that everyone is happy about the ratification, but there will be a cost that comes with that. “It could result in shifting of priorities and some movements and some cuts in the non-union ranks.”

“There will probably be some hard decisions and I think when you look at vehicle development, look at manufacturing, at volumes of certain products, all of these things are going to be under the microscope,” Schuster said.

Farley said he expected every plant affected by the strike to be back at full-production over the next few days.

Featured Image Photo Credit: Sam Upshaw Jr./Courier Journal / USA TODAY NETWORK / Imagn