General Motors workers belonging to the United Auto Workers (UAW) union have approved a new agreement with the company on working conditions, reports The Wall Street Journal.
The text of the new agreement, designed for four and a half years, was approved by 54.7% of GM workers, according to an electronic scoreboard with the voting results of all American factories of the concern.
Let us recall that in mid-September, workers at General Motors, Ford and Stellantis factories started a strike that became the largest in the United States in decades. In total, almost 50 thousand workers took part in the strike. Ford previously reportedthat losses from the strike amounted to $1.3 billion, GM announced losses of $800 million, Stellantis – €3 billion.
At the end of October, the companies one by one came to an agreement with the UAW, pledging to increase workers’ wages by 25-30% over several years, improve conditions for pension contributions and health insurance, etc. The UAW negotiated with all three automakers at the same time. GM is the latest to agreed to UAW requirements. According to Deutsche Bank estimates, the agreement with the union will increase costs for Ford by $6.2 billion, GM by $7.2 billion, and Stellantis by $6.4 billion. Voting by Ford and Stellantis workers on the agreement is still ongoing.