UAW Rejects Deere Contract Extension, Setting Stage for 2027 Strike Threat
DE sits 50% above its 52-week low of $433 on elevated volume (1.8× avg).
Summary
UAW members voted down Deere's two-year contract extension offer, which included 4% annual wage increases and $3,000 bonuses. The rejection sets up a contentious negotiation for a new contract in 2027, with UAW President Shawn Fain demanding recall of 1,600 laid-off workers and criticizing outsourcing. Deere had rejected a union counteroffer costing $500 million more. The 2021 strike lasted over a month and cost Deere significantly; a repeat in 2027 could disrupt production amid already weak farm equipment demand. The UAW confirmed its members at John Deere voted to reject the company's proposal to extend the current collective bargaining agreement through 2029.
At the time of this announcement, DE was trading at $647.76 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $174.8B. The 52-week trading range was $433.00 to $674.19. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.