Current:Home > InvestThe UAW reaches a tentative deal with GM, the last holdout of Detroit's Big 3 -EliteFunds
The UAW reaches a tentative deal with GM, the last holdout of Detroit's Big 3
Algosensey Quantitative Think Tank Center View
Date:2025-04-07 20:48:21
The United Auto Workers union has reached a tentative contract agreement with General Motors, according to sources close to the negotiations on Monday.
The deals mean all three of the Detroit automakers have now clinched an agreement over the past week to bring a historic six-week strike to a close.
The tentative deals with GM, Stellantis and Ford still need to be individually ratified by the union's membership at those companies, and workers have the ability to send their representatives back to the bargaining table.
The details of the GM deal have not been released, but it's expected to closely mirror the tentative agreements with Ford and Stellantis, the parent company of Chrysler.
Those deals called for a pay increase of at least 25% for all workers, cost of living increases on top of that, and increases to retirement contributions. The Stellantis deal also included the reopening of an idled plant in Belvidere, Illinois, a major union priority.
GM was the remaining Big 3 holdout
General Motors, the last holdout among the Big Three automakers, was under intense pressure to strike a deal.
The union had clinched a deal with Ford on Wednesday and then sealed an agreement with Stellantis on Saturday.
But after failing to secure a deal with GM on Saturday, the UAW expanded its strike against the automaker, ordering workers to walk out at the Spring Hill plant in Tennessee, GM's largest facility in North America.
The plant also feeds engines to other plants, setting GM up for potentially very painful ripple effects if the shutdown had been prolonged.
The deals signal the potential end of a heated six-week strike that has pitted a union eager to claw back previous sacrifices against the "Big 3" U.S. automakers, which have been making record profits and are eying a tricky transition to electric vehicles. '
Still, there's no guarantees UAW workers will ratify the deals.
Just this month, the UAW announced a tentative deal with Mack Trucks — a manufacturer in the Volvo Group, and not part of the Big 3. But 73% of the membership rejected that contract, and the UAW and Mack Trucks are now back at the negotiating table.
veryGood! (143)
Related
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- 4 Las Vegas high school students charged with murder as adults in classmate’s fatal beating
- India, Australia commit to boosting strategic ties as their diplomats and defense chiefs hold talks
- 'Miracle dog' regaining weight after spending 2 months in wilderness by dead owner's side
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Trump said the border wall was unclimbable. But hospitals are full of those who've tried.
- Suki Waterhouse reveals she's expecting first child with Robert Pattinson
- D.C. sues home renovation company Curbio, says it traps seniors in unfair contracts
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Love Is Blind's Bliss Poureetezadi Is Pregnant, Expecting First Baby With Husband Zack Goytowski
Ranking
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Kentucky cut off her Medicaid over a clerical error — just days before her surgery
- Love Is Blind's Bliss Poureetezadi Is Pregnant, Expecting First Baby With Husband Zack Goytowski
- As 2023 draws to close, Biden’s promised visit to Africa shows no signs of happening yet
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Luckiest store in Michigan? Gas station sells top-prize lottery tickets in consecutive months
- Colts owner Jim Irsay says he was profiled by police for being 'a rich, white billionaire'
- The Excerpt podcast: Hamas leader says truce agreement with Israel nearing
Recommendation
The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
Are banks and post offices open on Thanksgiving and Black Friday? Here's what to know
Deaths from gold mine collapse in Suriname rise to 14, with 7 people still missing
Travis Kelce and Jason Kelce's Sweet Hug Is the Real Winner of the Chiefs Vs. Eagles Game
2 killed, 3 injured in shooting at makeshift club in Houston
Israeli troops battle militants across north Gaza, which has been without power or water for weeks
Cancer patient pays off millions in medical debt for strangers before death
Best Black Friday Deals on Kids' Clothes at Carter's, The Children's Place, Primary & More