GM, UAW Agree on Tentative Labor Contract
It would end a month-long strike by 48,000 workers
General Motors and union leaders have reached a tentative deal on a new labor contract that could end the United Auto Workers’ month-long strike against the automaker, the UAW said Wednesday.
Details of the proposed four-year deal were not disclosed. However, the union’s members with GM are expected to receive raises of 3 percent to 4 percent or lump-sum bonuses each year as part of the accord. The deal also will include the addition or retention of 9,000 hourly U.S. jobs and a “clear path” for temporary workers with three or more years to become full-time employees, according to two people briefed on the pact.
The company’s shares jumped by about 2.5 percent in morning trading before leveling off to close up by just over 1 percent at $36.65 a share.
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