) and the United Auto Workers union reached a tentative deal on Wednesday for a new four-year labor deal, moving closer to ending a costly month-long strike that shut down GM’s most profitable factories in a test of wills over the future of U.S. auto industry jobs.
The deal also would create or retain 9,000 UAW jobs, the source said. CNBC earlier reported that figure. GM in September said its initial offer would support 5,400 jobs - and a majority of those would be new jobs. Analysts have estimated the strike cost GM more than $2 billion in lost production, though some of that could be made up through overtime work. The strike halted production of GM’s large pickup trucks and sport utility vehicles - key drivers of the company’s global profit.POLITICAL EVENT
The deal is not done yet. The union’s national GM council will decide whether to accept the agreement during a meeting on Thursday. Then UAW members at GM will vote on the agreement. The strike continues at least until Thursday’s meeting, the UAW said in a statement. The final agreement is similar to that offer on pay and bonuses, but includes some enhancements, the person briefed on the matter said.
Biz Eventually these jobs will move to China so a short term victory I believe...
Biz All thanks to trump 2020
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Source: WSJ - 🏆 98. / 63 Read more »