Connect with us

Hi, what are you looking for?

Your Retire Invest

Economy

“United Autobody Workers and GM Forge Historic Agreement – Strike is Over!”

The Cadillac plant in Detroit, Michigan, was abuzz all week as GM workers awaited the outcome of the months-long Auto Workers Strike. After months of negotiation, the United Auto Workers (UAW) and General Motors finally reached a tentative agreement that is set to end the strike.

The strike, which began on September 16, was the longest automotive strike in more than 20 years and the most expensive work stoppage for the company in nearly 50. The key points of the proposed contract include a 4% wage increase, round-the-clock temp workers to be given permanent positions, and improved healthcare benefits for both active and retired workers.

In addition to the negotiations between GM and the UAW, talks between the union and Fiat Chrysler Automobiles, Ford Motor Company, and other suppliers and parts makers are ongoing. The UAW leadership is hopeful that the agreement between GM and the union could be a template for these additional negotiations.

Though the details of the new GM/UAW contract have yet to be released, both sides appear optimistic that the agreement is fair and reasonable for both parties. In a statement, UAW president Gary Jones emphasized the importance of the deal that has been made and thanked the striking workers for their commitment.

“This strike was not easy on anyone, but it was worth it. The Agreement will secure jobs, fairness and respect for our members in the workplace, and better wages, benefits, and opportunities for our members in an increasingly dynamic industry,” said Jones.

The proposed deal, which will be voted on by UAW members, will end the strike and bring the Cadillac plant back to full production. This is a huge victory for GM workers and a testament to the importance of collective bargaining.

You May Also Like

Editor's Pick

Controversy ensued recently when a vocal group within the Republican party (in the United States) began to make the argument that the Speaker position,...

Stock

In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

Top News

Intensified aerial strikes in and around the Hamas-controlled Gaza Strip have been met with retaliatory releases of Israeli hostages by the militant organization. On...

Economy

In an effort to promote stronger loyalty among customers, Delta Air Lines has recently announced changes that will make it more difficult to earn...

Disclaimer: YourRetireInvest.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 YourRetireInvest. All Rights Reserved.