Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW.
The United Auto Workers said late Monday it has reached a tentative agreement with General Motors Co. GM, +0.51%, the third and last of the Big Three carmakers to have such a deal with its workers. GM workers on strike will return to their jobs as the agreement goes through a ratification process. “Like the agreements with Ford F, -1.91% and Stellantis STLA, -0.22%, the GM agreement has turned record profits into a record contract,” the union said.
” That year, the UAW had a strike at GM only; this year, workers at several Big Three facilities walked out, a break with tradition for the union. The tentative agreement with GM grants 25% base-wage increases through the four years of the contract, cumulatively raising the top wage by 33% plus cost-of-living adjustments to more than $42 an hour, the union said. GM’s starting wage will increase by 70% compounded with estimated COLA to over $30 an hour.
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Buy Chevron stock on weakness, BofA saysClaudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter ClaudiaAssisMW.
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