General Motors reached a tentative deal with United Auto Workers leaders early Monday morning, signaling the end of the union’s six-week strike against Detroit automakers.
General Motors is the last of Big-Three to finalize a deal with the UAW, which sought to hasten an agreement through intensified strike efforts against the car manufacturer over the weekend. According to CNBC, GM’s offer includes terms similar to those found in the Ford and Stellantis deals, accepted last Wednesday and Saturday, respectively. If true, then United Auto Workers members at all three companies will receive 25% pay raises in addition to cost-of-living adjustments, accelerated paths to permanent job roles for temporary workers and improved benefits.
Union members must still ratify the contracts, leaving the possibility open for strikes to resume in the near future. However, assuming the UAW follows the same pattern of behavior it showed following the Ford and Stellantis agreements, employees will likely return to work at General Motors before they hold a vote on whether to accept the terms of the deal. The United Auto Workers union has yet to announce a timeline for ratification.
The General Motors agreement arrives just one week after the automaker posted its third-quarter earnings, revealing it had beat analyst expectations for the period in spite of the UAW strike. However, in later remarks, the brand claimed it had lost $800 million since employee walkouts began in mid-September and withdrew its full-year financial guidance. Of all Detroit-Three brands, negotiations between GM executives and United Auto Workers leaders were arguably the most intense, resulting in frequent strike escalations and traded blows during media appearances.
