General Motors Makes Counteroffer to United Auto Workers in Ongoing Strike Negotiations

General Motors (GM) has announced that it has presented a counteroffer to the United Auto Workers (UAW) in an effort to resolve 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 between the two parties. However, there has been movement in a few key areas, according to a source familiar with the talks.

Negotiations between the UAW and Ford have also shown progress, with the automaker recently making a comprehensive new offer that includes a more than 20% general wage increase in the first year alone. When combined with cost-of-living adjustments, the total wage increase offer could reach close to 30% over the contract’s duration.

Despite these positive developments, agreements on other significant issues, such as pay, union representation at future battery plants, and retirement plans, have yet to be reached between the UAW and Ford.

In a show of preparedness for a potentially prolonged strike, GM secured a new $6 billion line of credit on Wednesday. The company estimates that the strike has cost them approximately $200 million during the third quarter.

Meanwhile, workers represented by the UAW in talks with Mack Trucks, owned by Volvo Group, are set to receive a 19% pay hike over five years, according to a tentative agreement summary seen by Reuters.

General Motors remains optimistic that its counteroffer will reward its team members and enable the company to succeed and thrive in the future. UAW President Shawn Fain is expected to provide an update on the status of the negotiations with the Detroit Three automakers on Friday.

As negotiations continue, both the UAW and the automakers are working towards finding a resolution that satisfies the interests of all parties involved and brings an end to the strike.