WASHINGTON/DETROIT: General Motors (GM) and the United Auto Workers (UAW) said they struck a tentative deal on Monday (Oct 30) that will end the union...
Union members picket GM in the midst of a tentative deal being reached with the UAW on Monday. The union has officially suspended its strike against the Detroit Three. – ReuterspicGeneral Motors and the United Auto Workers said they struck a tentative deal on Monday that will end the union’s unprecedented six-week campaign of coordinated strikes that won record pay increases for workers at the Detroit Three automakers.
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. The union officially suspended its strike against the Detroit Three, Fain said. The union’s local leaders will come to Detroit on Friday to consider the deal with GM, before the terms are taken to all union workers for ratification.
UAW leaders argued their contract fight was part of a larger movement to reverse decades of economic setbacks for working-class Americans and some analysts agreed. Fain then kept most UAW members working in order to hoard strike funds. He expanded the strike slowly, when he decided that progress in talks had stalled.
“Consumers will bear some of the cost burden over time ... automakers will not have an easy time passing along all of the costs ... and will have to seek efficiencies in other ways, or further limit production to more expensive vehicles that can absorb higher labour costs,” Cox Automotive’s chief economist, Jonathan Smoke, said.
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