General Motors reached an agreement with the trade union – Kommersant
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General Motors (GM) has reached a preliminary agreement with the United Automobile Workers (UAW). This is reported The Wall Street Journal, CNBC and other American media citing sources. Thus, GM became the last of the three automakers to agree with workers to increase wages and improve working conditions at factories.
Details of the agreement have not yet been announced, but they are likely close to the terms the UAW previously agreed to with Ford and Stellantis. Agreement with Ford And Stellantis was achieved last week. The companies agreed to increase workers’ wages by 25–30% over several years, improve conditions for pension contributions and health insurance, etc. The UAW negotiated with all three automakers at the same time. The terms of the agreements must now be ratified by unionized workers, which is expected to happen in the coming weeks.
The strike by workers at General Motors, Ford and Stellantis plants has become the largest in the United States in several decades. It began in mid-September and gradually spread to several dozen factories in the States, also to her have joined Canadian workers. In total, almost 50 thousand workers took part in the strike. Ford previously reportedthat losses from the strike amounted to $1.3 billion, GM announced losses of $800 million. According to Deutsche Bank estimates, the agreement with the union will increase costs for Ford by $6.2 billion, GM – by $7.2 billion, Stellantis – by $6.4 billion
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