Automobile manufacturer General Motors reached an agreement with the American union United Auto Workers (UAW). This is the third and last major automaker with which the union has reached an agreement.
Union members demanded better wages and imposed weeks of layoffs at automakers Stellantis, Ford and General Motors. The union had previously reached an agreement with the first two companies. With the agreement with General Motors, all strikes will end immediately.
General Motors was under additional pressure to reach an agreement as Ford and Stellantis had restarted production under their agreements with the UAW.
25 percent
The deal with General Motors, which union members have not yet voted on, is similar to deals with two other manufacturers. Wages will increase by 25 percent and retirees will receive an additional $2,500 (2,355 euros) in five installments.
The wage increase is well below the union’s demands. He wanted union members’ salaries to increase by 40 percent because the revenues of leading companies also increased at this rate.
The UAW union represents approximately 150,000 workers in the auto industry. Approximately 13 percent of members participated in the strike. The actions were supported by US President Biden, among others.
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
