GM and UAW Agreement: What You Need to Know
In October 2019, General Motors (GM) and the United Automobile Workers (UAW) reached a tentative agreement to end the longest strike in the American auto industry in decades. This agreement came after 40 days of negotiations between the two parties and ultimately resulted in a new four-year contract for approximately 49,000 UAW-represented GM workers.
The GM and UAW agreement addressed several key issues that led to the strike, including wages, job security, and healthcare. Here are some of the most important details from the agreement:
1. Wage Increases: The new contract includes wage increases for UAW members, with all workers receiving a 3% base wage increase in the first and third years of the contract, and a 4% lump-sum payment in the second and fourth years.
2. Job Security: The agreement also provides job security for workers by committing GM to invest $7.7 billion in its U.S. manufacturing facilities over the life of the contract. This investment is expected to create or retain approximately 9,000 jobs.
3. Healthcare: The new contract introduces changes to the healthcare plan for UAW members, with workers now being required to pay more for their healthcare coverage. However, the agreement also includes the creation of a new health care trust fund that will cover prescription drug costs for workers.
4. Temporary Workers: The issue of temporary workers was also addressed in the GM and UAW agreement, with the new contract limiting the use of temporary workers and providing a pathway for these workers to become permanent employees.
Overall, the GM and UAW agreement represents a compromise between the two parties and is seen as a significant win for UAW workers. The agreement not only addresses the key issues that led to the strike but also provides workers with increased wages and job security.
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