General Motors shares latest offer to UAW as the strike against the Big Three continues
(CBS DETROIT) - General Motors shared details of its latest offer to the UAW as the automaker continues to negotiate amid the union's historic strike against the Big Three.
GM offer to UAW for most employees
Most employees will receive a 20% wage increase over the life of the agreement, with a 10% increase in the first year under the new offer. In addition, nearly all UAW employees at the automaker will make $39.24 per hour (or $82,000 per year) in base wages by the end of the agreement.
In addition, the cost of living adjustment would be reinstated for members at max wages starting in year two.
Autoworkers will receive two weeks of paid parental leave, up to five weeks of vacation and Juneteenth. There will be no change to the healthcare premiums.
For temporary and in-progression UAW employees
The company's latest offer includes a faster progression to reach maximum wages. The progression steps would be cut in half to four years.
All active full-time temporary workers employed for one year will be converted to Step-1 in-progression employees immediately once ratified.
Temporary workers will also see wages increased to $20 per hour.
Improved retirement security for UAW workers
Here's how the latest offer has improved retirement security for autoworkers:
- GM's contribution would increase from 6.4% to 8.0% of wages for active in-progression employees
- The company contribution for healthcare in retirement increased from $1 to $1.25 per hour for active in-progression workers.
- According to GM, a $1,000 payment will be made to the defined contribution plan of active traditional employees.
The UAW started striking against Ford, General Motors and Stellantis after they failed to reach agreements before contracts expired at 11:59 p.m. on Thursday, Sept. 14.
Each automaker has made several counteroffers, but none of the offers have been accepted.
Last week, UAW President Shaw Fain gave an update on the strike during a Facebook Live. He did not extend the strike to any new plants but said GM had agreed to place electric vehicle battery plants under a national contract.
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