General Motors and the United Automobile Workers union reached a tentative agreement on a new labor contract on Monday, according to two people familiar with the matter, setting the stage for an end to the union’s six-week wave of strikes against the three large U.S. automakers.
The agreement comes days after the union announced tentative agreements with Ford Motor and Stellantis on new contracts. The three deals contain many of the same or similar terms, including a 25 percent general wage increase for U.A.W. members as well as the possibility for cost-of-living wage adjustments if inflation flares.
The tentative agreement with G.M., the largest U.S. car company by sales, requires approval by a union council that oversees negotiations with the company, and then ratification by a majority of its 46,000 U.A.W. workers.
[Inflation-producing contracts get indexed for inflation? That’ll end well. Hope the UAW is prepared for some more bleed-off of sales into foreign models. — Ed]
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