Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

GM sweetens UAW contract offer with $7.7 billion in 'direct' US factory investments

GM sweetens UAW contract offer with $7.7 billion in 'direct' US factory investments

GM says its latest offer to striking UAW members addresses the union's top concerns, also including preserving health care.

The company says its plan preserves health care and provides a “clear path” for temporary workers to reach permanent employment.


It also includes $7.7 billion in direct investment from the company, according to a person familiar with the negotiations.

General Motors sweetened its latest contract offer to the United Auto Workers by upping the amount of money it’s committing to invest in U.S. factories to $7.7 billion in an attempt to end the union’s 26-day strike, a person familiar with the deal said Friday.

The proposal ups GM’s planned investment from $7 billion originally offered before the UAW started picketing Sept. 16. GM also told the union all $7.7 billion would be “direct” investments, rather than a mix of direct and “indirect” investments in its previous commitment, the person said, asking not to be named because the details aren’t yet public. Indirect investments could include joint ventures with other companies, like a battery maker.

“From the outset, General Motors has been committed to an agreement that is fair and worthy of our team members’ support,” he said. “That’s why before the contract deadline, we made an offer that we felt was strong. And since that offer, we’ve done even more to address the issues the UAW has brought forward.”

The most recent proposal, according to Johnson, also includes increases in worker compensation through wages and lump sum payments as well as improved profit-sharing and contract ratification bonuses. GM’s proposal prior to the strike included an $8,000 ratification bonus and wage or lump-sum pay increases in all four years of the deal.

The union declined to comment directly on Friday’s letter, referring questions to a Thursday afternoon letter to GM from UAW Vice President Terry Dittes that said the union’s subcommittees have been deliberating on several issues that were part of GM’s most recent proposal.

GM, in response to Dittes’ letter, urged the union to agree to “around-the-clock” bargaining in an attempt to reach a tentative agreement.

A potential deal wouldn’t mean an immediate end to the strike. The pact would still need approval from local union leaders as well as rank-and-file members. The local leaders also would decide whether workers would remain on picket lines or return to work during the voting process.

About 48,000 UAW members have been picketing outside GM’s U.S. facilities since Sept. 16.

The work stoppage has rippled throughout the automaker’s North American operations, causing thousands of additional layoffs. Wall Street analysts estimate GM is losing roughly $50 million to $100 million per day in lost production.

It also has contributed to substantial declines in GM shares during the past four weeks. The stock is down about 9% since Sept.13, the last trading day before the strike. GM shares were trading up 3% late Friday morning after opening at $35.22.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
×