General Motors and the United Auto Workers talked until about 5 a.m. Eastern on Friday as they engage in intensive bargaining to end a six-week strike.
went on until about 5 a.m. Friday as they engage in intensive bargaining to try to reach a labor contract deal to end a six-week-old strike. of Detroit's Big Three car manufacturers to negotiate an agreement to settle strikes joined by 45,000 Detroit Three autoworkers since mid-September. The deal will likely set a pattern for new contracts withnegotiators were reconvening later on Friday after the all-night session with the hope of soon reaching a deal.
It also reduces the time to get to top pay to three years from eight, and the UAW won the right to strike over plant closures. The deal amounts to total pay hikes of more than 33% when compounding and cost-of-living mechanisms are factored in, the UAW said. Ford Chief Financial Officer John Lawler said Thursday the strike had cost the automaker $1.3 billion in earnings and 80,000 vehicles.
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