“A tentative deal Monday [Oct. 30] between the United Auto Workers and General Motors brought an end to contentious negotiations and roughly six weeks of labor strikes against the Detroit automakers,” CNBC reports today. They maintain that the union essentially “won” the strike, getting better terms than most expected, “leading to record deals for 146,000 UAW members with GM, Ford Motor and Stellantis.” The unions still must vote to approve the terms of the agreement.
CNBC says the terms are not yet public, but that they “set 25% compounded raises over the 4.5-year agreements, including an 11% increase upon ratification; reinstatement of cost-of-living adjustments; increased 401(k) company contributions; and enhanced profit-sharing bonuses.”
They add that UAW President Shawn Fain said Oct. 29 that the union plans to use these record deals to assist in its embattled organizing efforts, including at auto companies outside of the three Detroit automakers, citing talks with the “big five or big six” automakers. Whether the UAW can organize foreign automakers in the U.S., also known as transplants, or electric vehicle companies such as Tesla or Rivian, will be determined in the coming years.
