UAW President Shawn Fein to update membership later on Friday, could call for additional strikes
General Motors Co. said Friday it has made a new, “record” proposal to its auto workers, reinstating cost-of-living adjustments and offering compounded raises of about 25% over four years.
GM’s GM, +1.40% offer comes as the United Auto Workers strike entered its second month, and a little over a week after the union called for a strike at Ford Motor Co.’s F, +1.17% Kentucky truck plant, which Ford has called its most profitable plant in the world. The UAW said earlier Friday union president Shawn Fain will update the membership at 4 p.m. Eastern, after a week of “intensive negotiations with the Big Three.”Auto workers started the strike the four-year contract’s expiration on Sept. 14, walking out at plants of GM, Ford, and Stellantis NV STLA, -0.69%. The union has expanded the labor action to more facilities as the weeks went by.
Striking at all Big Three at once was a departure from the long-standing tradition striking at one car company at a time, to save picket-line firepower and the strike fund.
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