Looking good. Fingers crossed. Could be. Maybe this time. Might be a chance. Who knows.
The deal includes a 25 per cent hourly pay raise plus cost-of-living allowances over the more-than-four-year contract, according to the person, who wasn’t authorized to speak publicly. GM’s tentative agreement has similar economic terms to Ford’s but it is unclear if there are differences terms including in retiree benefits, which has been a sticking point, according to the person.
The agreement still needs to be approved by GM’s union members.
GM’s shares spiked 3.9 per cent on the news before paring gains in premarket trading. They were up 1.1 per cent as of 9:29 a.m.
The UAW expanded its walkout at GM on Oct. 28 by calling for another strike at the automaker’s Spring Hill, Tennessee, plants. The UAW had previously targeted eight assembly plants and 38 parts-distribution facilities from the three automakers since the strike began Sept. 15, including GM’s Arlington, Texas, facility that makes SUVs and a pickup truck plant in Missouri.
The strikes at Ford and Stellantis NV ended when those companies reached tentative deals with the union.
GM reaches tentative deal with UAW to end six-week strike
General Motors Co. reached a tentative agreement with the United Auto Workers (UAW) to end a six-week-old strike with similar terms to the deal signed earlier by Ford Motor Co., according to people familiar with the matter.The deal includes a 25 per cent hourly pay raise plus cost-of-living allowances over the more-than-four-year contract, according to the person, who wasn’t authorized to speak publicly. GM’s tentative agreement has similar economic terms to Ford’s but it is unclear if there are differences terms including in retiree benefits, which has been a sticking point, according to the person.
The agreement still needs to be approved by GM’s union members.
GM’s shares spiked 3.9 per cent on the news before paring gains in premarket trading. They were up 1.1 per cent as of 9:29 a.m.
The UAW expanded its walkout at GM on Oct. 28 by calling for another strike at the automaker’s Spring Hill, Tennessee, plants. The UAW had previously targeted eight assembly plants and 38 parts-distribution facilities from the three automakers since the strike began Sept. 15, including GM’s Arlington, Texas, facility that makes SUVs and a pickup truck plant in Missouri.
The strikes at Ford and Stellantis NV ended when those companies reached tentative deals with the union.
