GM sweetens wage and benefits offer to workers

GM sweetens wage and benefits offer to workers

General Motors CEO Mary Barra talks with reporters following a meeting with lawmakers from Michigan and Ohio at the U.S. Capitol June 05, 2019 in Washington, DC.

Chip Somodevilla | Getty Images

DETROIT – General Motors is attemping to avoid a looming strike by the United Auto Workers union through a new offer Thursday that includes significant pay increases, more vacation days and better benefits for retirees, among other perks.

The proposal, which GM CEO Mary Barra called “compelling and unprecedented,” addresses many of the union’s demands but continues to fall short on others, such as a 40% pay increase over the four years of the deal that UAW sought.

GM released details of the deal roughly nine hours before the UAW could initiate targeted strikes against GM, Ford Motor and Stellantis if deals are not reached by 11:59 p.m. ET on Thursday.

“We’re at a crossroads on our path to building a company that can sustain all of us for decades to come,” Barra said in a public letter. “Today, we put a compelling and unprecedented economic package on the table that reflects the significance of this critical moment.”

This is a developing story. Please check back for additional details.

Original news source Credit: www.cnbc.com

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