Leaders with the United Auto Workers detailed a tentative agreement made by General Motors.
United Auto Workers President Shawn Fain walks with union members striking at Ford's Michigan Assembly Plant in Wayne, Mich., early Friday, Sept. 15, 2023. to announce contract agreements with the union, which could put an end to the seven-week strike.
GM is pleased to have reached a tentative agreement with the UAW that reflects the contributions of the team while enabling us to continue to invest in our future and provide good jobs in the U.S.,” GM Chair and CEO Mary Barra said in a statement. “We are looking forward to having everyone back to work across all of our operations, delivering great products for our customers, and winning as one team.
The deals will last four years and eight months and include 25% general pay raises and cost of living adjustments. Combined they bring the wage increase to over 30% over the life of the contract, the Associated Press reported.25% wage increase. Upon ratification - 11%; Sept. 2024 - 2027: 3% each yearShortened timeline to get top wages - 3 years to reach top wages instead of 7
10% employer contribution for employee retirement with no required employee contribution to their 401 "For weeks, we've seen an army of analysts and pundits crying that our union was going too far, that we were demanding too much," UAW President Shawn Fain said Saturday. "They said they weren't sure if we would ever get a deal. And then we got all three...we just fought and struck in ways we have never done before. And we won big."
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