Marley Jay is a business news reporter for NBC News Digital.
The United Auto Workers strike is set to end as the union and General Motors announced a tentative agreement on a new contract Monday, according to sources cited by CNBC. The pending deal comes just days after similar deals with Ford and Stellantis. The union announced a framework agreement with Ford on Wednesday, followed by on Saturday by a deal with Stellantis, which makes Ram, Dodge, and Chrysler vehicles.
If members approve the contracts, they will last four and a half years. Union members will get an 11% initial wage increase and a pay bump of 25% over the course of the deal. The new contract also reinstates cost-of-living adjustments, lets workers reach top wages in three years instead of eight, and protects workers' right to strike over plant closures, among other significantly enhanced benefits.
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