10/30/2023

UAW, GM Reach Deal

This has ended the strike against Detroit's automakers

General Motors (GM) and the United Auto Workers (UAW) have reached a tentative agreement, they said on Monday, with its members winning record pay hikes to end six weeks of a coordinated strike against the Detroit Three automakers.

The accord follows deals reached in the last few days by the union with Ford Motor and Chrysler-owner Stellantis, in what amounts to significant victories for auto workers after years of stagnant wages and painful concessions made by the union following the 2008 financial crisis.

The new contracts will significantly raise costs for the automakers. The companies and some analysts have said the deals will place the Detroit Three at a disadvantage compared with electric-vehicle leader Tesla and foreign brands, such as Toyota Motor, which are not unionized.

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