Early Friday morning, General Motors CEO Mary Barra shared her reaction to the United Auto Workers union strike with CNBC’s Phil Lebeau during an episode of “Squawk Box.”
Barra expressed her frustration with the situation, noting several times that GM’s latest contract offer is the most generous proposal in the automaker’s 115-year history.
"We don't need to be in strike right now," Barra stated.
The latest offer from GM includes the following key considerations:
1. A 20% wage increase over the four-year term of the contract, with a 10% raise in the first year. Yet, the UAW has demanded increases of 36% over the term of the contract. Union leaders say this demand aligns with past pay raises for OEM C-suite executives.
CNN’s Vanessa Yurkevich questioned Barra about this exact issue in an interview Friday morning. Barra explained that 92% of her salary is dependent on company performance. She then moved on to discuss GM’s current contract proposal, citing profit sharing as well as 20% wage increases. “If the company does well, everyone does well,” said Barra.
The UAW did not take kindly to this response, tweeting out:
During the eight and a half minutes @GM CEO Mary Barra appeared on CNN this morning, she "earned" more money than any autoworker makes in a full work day.
And that's how the Big Three wants to keep it.#StandUpUAW
— UAW (@UAW) September 15, 2023
2. Under the existing agreement, it takes eight years for new hires to reach maximum wages. GM wants to shorten this to four years, but the UAW wants to remove the tiered wage structure altogether.
3. GM’s proposal also details a cost-of-living safeguard for top wage earners, ensuring salaries adjust with inflation. The union, however, seeks to return to a more generous system seen in previous years.
4. GM is promises not to shut down any of its U.S. manufacturing or warehousing facilities during the course of the contract.
5. GM is now offering up to five weeks of vacation and two weeks of parental leave. That matches Ford’s offer from Wednesday. The UAW has demanded more time off, including a four-day workweek.
Stay tuned to CBT News for more strike coverage.
