(Source: BMWED press release, September 11, 2022)
The tentative National Agreement contains general wage increases of 22% over the term of the agreement (24% when compounded), with retroactive pay (often referred to as “backpay”) for all straight time and overtime hours. The tentative agreement also includes five $1,000 annual service recognition bonus payments, $3,000 of the service recognition bonuses will be paid along with retroactive pay upon ratification of the agreement, with two additional $1,000 service recognition bonus payments in 2023 and 2024. Additionally, the tentative agreement provides for an additional paid day off that can be used as a personal day, vacation day or on the employee’s birthday.
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