by David Shepardson
(Reuters) – General Motors on Thursday offered to raise wages for its employees by 10% and pay two additional annual lump sum payments of 3% over four years as part of negotiations with the U.S. union United Auto Workers (UAW).
Last week, Ford offered a 9% wage hike through 2027 and 6% lump sum payments, much less than the 46% wage increase demanded by the union.
The UAW said 97% of its members voted in favor of authorizing a strike if no agreement is reached.
UAW President Shawn Fain called GM’s offer “an insulting proposition that doesn’t look like a fair deal for American autoworkers.”
Chrysler’s parent company, Stellantis, said Wednesday it would unveil its offer this week.
The existing four-year labor agreements between the UAW and General Motors, Ford Motor and Stellantis expire Sept. 14.
The UAW said it is seeking pay and benefits improvements, including salary increases of more than 40% over four years, significant additional furloughs and the reinstatement of defined-benefit pensions that had been cut for newer workers.
(Reportage David Shepardson; additional reporting by Ben Klayman; Camille Raynaud, editing by Nicolas Delame)
Copyright © 2023 Thomson Reuters
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
