GM’s latest offer still falls short of the union’s demands. The UAW could strike against all three Detroit automakers next week.
General Motors offered its largest four-year wage increase in decades as part of a new contract proposal to the United Auto Workers.The UAW could strike against all three Detroit automakers next week.on Thursday offered its largest four-year wage increase in decades as part of a new contract proposal to the United Auto Workers, as the automaker attempts to avoid another costly strike by its unionized workforce.
The wage increase for most of GM's roughly 46,000 UAW-represented workers would be 10%, while newer employees would be eligible for up to a 56% increase in wages over the four years of the deal, the companyThe proposed contract also includes two additional 3% lump sum payments resulting in a total increase of 16%; $5,500 ratification bonus; $6,000 one-time inflation-recognition payment; and $5,000 in inflation-protection bonuses over the life of the agreement .
Despite the proposed wage increase being the largest under a UAW contract since 1999, it still falls far short of the union's demands of 40% hourly pay increase, a reduced 32-hour work week, a shift back to traditional pensions, elimination of compensation tiers, and restoration of cost-of-living adjustments, among other items on the table.This is a developing story. Please check back for additional updates.
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