• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 30
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»UAW reaches deal with GM, ending strike against Detroit automakers
Business

UAW reaches deal with GM, ending strike against Detroit automakers

October 31, 2023No Comments6 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email
  • Pay for veteran workers at Detroit Three to rise by 33%
  • UAW won right to strike future plant closures
  • Contract will boost GM labor, pension costs $7 bln -sources

Oct 30 (Reuters) – General Motors (GM.N) and the United Auto Workers (UAW) struck a tentative deal on Monday, ending the union’s unprecedented six-week campaign of coordinated strikes that won record pay increases for workers at the Detroit Three automakers.

The accord follows deals the union reached in recent days with Ford Motor (F.N) and Chrysler-owner Stellantis (STLAM.MI) – significant victories for auto workers after years of stagnant wages and painful concessions following the 2008 financial crisis.

“We wholeheartedly believe our strike squeezed every last dime out of General Motors,” UAW President Shawn Fain said in a video address. “They underestimated us. They underestimated you.”

The union officially suspended its strike against the Detroit Three. UAW local leaders will come to Detroit on Friday to consider the deal with GM, before taking terms to all union workers for ratification.

“We are looking forward to having everyone back to work across all of our operations,” said GM CEO Mary Barra.

The new contracts will significantly raise costs for the automakers. The companies and some analysts have said the deals will make it harder for the Detroit Three to compete with electric-vehicle leader Tesla (TSLA.O) and nonunion foreign brands such as Toyota Motor (7203.T).

The UAW won from GM roughly the same package of wage increases agreed with the other two automakers. Pay for veteran workers will rise by 33% and GM will give $2,500 in five payments to retirees through 2028.

See also  EU agrees law to hit fossil fuel imports with methane emissions limit

Sources have said pension benefits were a sticking point in the UAW’s negotiations with GM, which has more retirees than Ford or Stellantis.

Fain said the union’s move on Saturday to strike a key GM engine factory in Spring Hill, Tennessee, “landed the knockout blow” that got the deal.

The contract reverses years of efforts by GM to create lower-paid groups of UAW workers at units such as component plants, parts warehouses and electric vehicle battery operations. It puts workers at GM’s battery joint-venture with South Korea’s LG Energy under the national agreement.

Fain said some workers at GM’s component operations will get pay increases of as much as 89%.

The contract also restricts use of lower paid temporary workers. “We have slammed the door on having a permanent underclass of temporary workers at GM,” Fain said.

The UAW also gained more sway over the companies’ investment decisions by securing the right to strike over future plant closures.

[1/3]The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook// Acquire Licensing Rights

All three companies have said they do not plan to close existing factories as they shift to EVs. Yet the contract could force them to keep unprofitable plants open during a recession or period of slow sales for new models.

HIGHER COSTS

A series of walkouts began on Sept. 15, and nearly 50,000 workers out of nearly 150,000 UAW members at the Detroit automakers eventually joined. The strategy of escalating strikes cost the Detroit Three and suppliers billions of dollars.

See also  SEC Sues Elon Musk For Buying ‘Artificially Low’-Priced Twitter Stock. His Critics Agreed He Overpaid

UAW leaders called their contract fight part of a larger movement to reverse decades of economic setbacks for working-class Americans. Some analysts agreed.

“This is more than an auto industry story; it is a signal to the entire country that unionized workers can demand and get big wage increases,” said Patrick Anderson of the Anderson Economic Group.

The new contract will cost GM $7 billion over 4.5 years in higher labor costs, two sources told Reuters. Ford said last week it would add $850 to $900 per vehicle in labor costs.

“Consumers will bear some of the cost burden over time … automakers will not have an easy time passing along all of the costs … and will have to seek efficiencies in other ways, or further limit production to more expensive vehicles that can absorb higher labor costs,” Cox Automotive’s chief economist, Jonathan Smoke, said.

PRAISE FROM BIDEN

U.S. President Joe Biden and politicians from both parties weighed in to support the UAW as the union’s fight gained popularity with voters. Michigan will again be a crucial swing state in the 2024 presidential election, and Fain made support for the union’s fight a condition of winning his endorsement. The UAW still has not formally endorsed Biden’s re-election.

“This historic contract is a testament to the power of unions and collective bargaining to build strong middle-class jobs while helping our most iconic American companies thrive,” Biden said in a statement. His aides had worried that a prolonged strike would damage the U.S. economy and the Democratic president’s chances of re-election in 2024.

See also  Factbox: Who are Crispin Odey and the hedge fund Odey Asset Management?

The UAW has said it is committed to organizing workforces at other carmakers, making negotiations in 2028 between the union and the “Big Five or Big Six.”

Momentum toward deals accelerated over the past two weeks after UAW workers walked out at three of the most profitable factories in the world. The UAW eventually struck against nine plants.

“We have shown the companies, the American public and the whole world that the working class is not done fighting” Fain said. “In fact, we’re just getting started.”

Reporting by David Shepardson in Washington and Joseph White in Detroit
Additional reporting by Shivansh Tiwary, Kannaki Deka and Richard Francis in Bengaluru
Writing by Deepa Babington and Sayantani Ghosh
Editing by David Gaffen, Alistair Bell, Peter Henderson, Matthew Lewis and David Gregorio

: .

Acquire Licensing Rights, opens new tab

Joe White is a global automotive correspondent for Reuters, based in Detroit. Joe covers a wide range of auto and transport industry subjects, writes The Auto File, a three-times weekly newsletter about the global auto industry. Joe joined Reuters in January 2015 as the transportation editor leading coverage of planes, trains and automobiles, and later became global automotive editor. Previously, he served as the global automotive editor of the Wall Street Journal, where he oversaw coverage of the auto industry and ran the Detroit bureau. Joe is co-author (with Paul Ingrassia) of Comeback: The Fall and Rise of the American Automobile Industry, and he and Paul shared the Pulitzer Prize for beat reporting in 1993.

automakers Deal Detroit Reaches Strike UAW
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

CDC to cut back on Covid data it collects

May 5, 2023

SEC Approves First Spot Bitcoin ETFs, Signaling Major Shift in Crypto Regulation

January 11, 2024

Too risky? Retail bets on zero day options are growing

July 22, 2023

Indonesia Stripped of Under-20 World Cup After Israel Protests

March 30, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Bayer Is Rapidly Expanding Its Footprint With Artificial Intelligence

September 4, 2023

Darcelle, World’s Oldest Working Drag Queen, Dies at 92

March 31, 2023

9 Tech Gadgets And Inventions 2022 | You Must Have

August 30, 2022
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.