It’s been a little quiet regarding the UAW’s Stand Up Strike against the Big 3 automakers this week, but it appears there may be some positive negotiations occurring between the union and General Motors.
A top union negotiator told Bloomberg News on Thursday that the two sides are moving closer to a tentative agreement that would end the strike that’s been happening for more than a month.
“All the pieces are there, we just have to glue it together,” said Mike Booth, vice president of the union’s GM department, on the sidelines of a labor rally in downtown Detroit Thursday.
According to Bloomberg News, GM’s highest offer stood at 20% over four years, which according to Booth wasn’t enough. Automotive News reports that GM has now raised their offer to 23% on Friday (which matches Ford’s offer).
Automotive News says the new offer would raise wages by 23% for most employees to $40.39 per hour by the end of the contract with 10% coming in the first year. Wages for temporary employees would increase 26% to $21 per hour.
In addition to the pay raises, GM will also reinstate cost-of-living adjustments for employees with seniority starting in the first year of the contract, which would increase pay by more than 30% when combined with the wage increases.
“The offer on the table is the most significant that GM has ever proposed to the UAW and recognizes our team members for all their dedication and contributions,” GM said in a statement. “It is time for us to finish this process, get our team members back to work and get on with the business of making GM the company that will win and provide great jobs in the U.S. for our people for decades to come.”
Let’s hope that both sides can come together and make a deal quickly. That would be ideal for Corvette workers as well as buyers for the car who so far have escaped any real downtime caused by the Stand Up Strike.
Source:
Automotive News and Bloomberg News
Related:
As the UAW’s Strike Hits Ford’s Kentucky Truck Plant, Corvette Assembly Workers Pledge Their Support
Next Phase in UAW Strike Could Have Real Consequences for the Corvette Assembly Plant
[PICS] If Strike Occurs, Shipping of Corvettes from the Assembly Plant to Dealers Will Be Halted
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Not many people getting raises like that in this economy.
Yup. If you have a worker working an extra 8 hours a week overtime, at $40 per, that will be just about $100,000 a year total. For a semi-skilled job, that is pretty good. GM will try to pass that on to the consumer, but it may not work. Car prices are not always elastic. Could be their stock price takes a tumble.
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