General Motors climbs after agreeing to tentative labor deal with UAW that could end month-long strike
The UAW said in a press release emailed to Markets Insider that a proposed contract has been sent to the UAW GM National Council for approval. According to the release, the council will meet privately on October 17 to vote on the proposal.
No details of the contract were announced, except that it represents "major gains" for UAW workers, the union said in the release. "The number one priority of the national negotiation team has been to secure a strong and fair contract that our members deserve," UAW Vice President Terry Dittes said in a statement.
He continued: "Out of respect for our members, we will refrain from commenting on the details until the UAW GM leaders gather together and receive all details." The announcement comes on the back of a more than month-long strike by 48,000 GM workers. The automaker'sThe strike started due to disagreements over pay, healthcare costs, and the company's use of temporary workers. It's also the largest employee walkout in the auto industry in more than a decade.
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