General Motors Makes Counteroffer to End UAW Strike

General Motors (GM) has announced that it has presented a counteroffer to the United Auto Workers (UAW) in an effort to bring an end to the ongoing strike against the automaker. The strike, which began on September 15, is the first-ever targeted strike against the Detroit Three automakers, including Ford and Stellantis.

GM’s counteroffer marks the sixth proposal since negotiations between the company and the UAW commenced. While the UAW presented a new contract offer to GM earlier this week, significant gaps still remain, according to the automaker. However, there has been movement in a few key areas, as reported by a source familiar with the talks.

UAW President Shawn Fain is scheduled to provide an update on the status of the negotiations with the Detroit Three automakers on Friday. In previous updates, Fain has expanded the strike to additional plants at automakers that were not making significant progress towards new labor deals.

Negotiators for the UAW and Ford have reportedly narrowed their differences on pay increases after a new offer from the automaker. Talks with Stellantis, the parent company of Chrysler, have also been active in recent days. Ford’s comprehensive new offer includes a more than 20% general wage increase, not compounded, in the first year. When combined with cost-of-living adjustments, the total wage increase offer could reach close to 30% over the life of the contract.

However, there are still unresolved issues between the UAW and Ford, including pay, union representation at future battery plants, and the union’s push for a return to retirement plans with defined benefits. Stellantis declined to comment on the ongoing negotiations.

In anticipation of a prolonged struggle, GM secured a new $6 billion line of credit on Wednesday. The company estimates that the United Auto Workers strike cost them $200 million during the third quarter.

GM remains optimistic that its compelling offer will reward its team members and position the company for future success. The negotiations continue, and both sides are working towards a resolution that benefits all parties involved.