GM makes new offer to UAW, sees movement in all key areas
© Reuters. FILE PHOTO: United Auto Workers union members picket outside the General Motors Powertrain plant in Warren, Michigan September 24, 2007. REUTERS/Rebecca Cook/File Photo"We have made substantial movement in all key areas in an effort to reach a final agreement with the UAW and get our people back to work," the company said in a statement.
The automaker said the new 23% general wage increase offer represents a 25% compounded wage rise over the life of the agreement, with 10% hike in the first year.Progress in talks were prompted by the UAW's surprise strike last week at Ford's biggest Kentucky truck plant, which generates $25 billion in annual sales and accounts for about a sixth of the company's worldwide automotive revenue.
The union has waged an unusual campaign of simultaneous strikes against the Detroit Three automakers, demanding a 40% wage hike, including a 20% immediate increase, improvements in benefits, as well as covering battery plant workers under union agreements. Automakers have said such contracts will significantly raise costs and hobble their electric vehicle ambitions, putting them at a disadvantage when compared to EV leader Tesla will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
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