Gm Strike Tentative Agreement

Sources said at the time that the meeting had revived the talks that had slowed down, but Thursdays and Fridays were among the toughest days of the months of strikes. The union said GM was playing games and was not taking it seriously. GM said the union was holding back and outlined its latest offer in a letter to all your employees, including the strikers. On October 1, GM`s Silao Assembly in Mexico, which builds the highly profitable Chevrolet Silverado and GMC Sierra pickups, was forced to close due to a shortage of parts, bringing to at least 10,000 workers laid off due to strike action in North America. General Motors Strike: “We must fight for what is right” The UAW strike halted production at 33 GM production sites in nine states. More than 20 parts distribution camps were also affected. Industry analysts had predicted that GM could lose up to $50 million a day of strike action. Two sources familiar with the situation said the agreement followed the basic outlines of proposals that GM presented twice last month. It is expected to include at least $9 billion in new investments, the creation of 9,000 jobs, the maintenance of health insurance services without increased costs, ratification bonuses of $11,000, uncapped profit distributions, 3% increase in basic wages over two years and 4% lump sum premiums for the remaining two years of the proposed four-year contract. The interim agreement comes after GM Chief Mary Barra and President Mark Reuss negotiated for the first time at the negotiating table on Tuesday morning. It usually takes about two weeks for local leaders to clarify their membership on what is in the agreement and for the vote to take place on the premises across the country, Dziczek said. “We`ve almost forgotten what a strike is in this country,” said Harley Shaiken, a labor specialist at the University of California, Berkeley.

“And yet, in recent years, we have seen an increase in the number of strikes and work – indeed, a response to the insecurity and vulnerability felt by so many workers. I think this strike by the UAW and GM is really based on that.┬áHere`s what the Free Press is able to learn about the details of the UAW`s preliminary agreement with General Motors. Despite the tensions, negotiators worked every day from the strike until the evening. Negotiations began in July, but the two sides failed to reach an agreement until September, leading to a strike. The proposal does not end the strike. Workers are expected to remain on the picket line at least until the union`s GM National Council reviews the proposal on Thursday and decides whether it is subject to members` ratification. GM confirmed in a statement that the proposed interim agreement had been reached and that “additional details will be provided in due course.” The company`s shares closed up 1.1% on Wednesday, while major market indexes were down. GM shares have fallen nearly 6% since September 13 before the strike began. The next day, GM ended the strikers` health care and derived the costs for the union`s strike fund, which held nearly $800 million for costs such as health care and strike pay of $250 a week.

While the union expected to cover health care costs, it said it was blind to gM`s announcement. The strike shut down 33 GM production sites in nine U.S. states. It was the union`s first national strike since a two-day strike in 2007, which had little influence on the company. But in recent weeks, the signs of the economic toll of the strike have multiplied. Layoffs in the automotive industry have spread from the Midwest to Canada and Mexico, raising fears that the strike could plunge vulnerable areas into local recessions.