Did GM ratify the contract?
Members of Canadian labor union Unifor have voted 85 percent in favor of ratifying the proposed three-year collective agreement with General Motors Canada. Under the new contract, workers at GM Canada’s plants in St.
How long is the GM UAW contract?
four-year
(NYSE: GM) today announced that GM team members have ratified a new four-year labor agreement covering employees at 55 UAW-represented sites across the U.S. The new agreement provides GM hourly workers with a world-class wage, benefit and profit-sharing package.
What did GM retirees get in the new contract?
The 2019 contract ratified by 48,000 GM workers in October did not include a retiree bonus that the company has offered in the past. In 2015, it was a one-time $500 payment for retirees. The 2019 tentative agreement facing ratification by 55,000 Ford workers also does not include a retiree bonus.
What does UAW want from GM?
The UAW has vowed to fight to get GM to assign new vehicles to the four plants: Lordstown Assembly in Ohio, Detroit-Hamtramck and transmission plants in Warren and Baltimore. The union also wants the automaker to create a path for temporary employees to become permanent.
How much do GM retirees make?
GM pensions for all retirees average about $14,000 a year, more than double the median income from private pension plans in the U.S. GM won’t disclose exact figures, but officials note that many retirees get substantially more than the average, which is depressed by the reduced payments made to surviving spouses.
Does the UAW own part of GM?
As contracted back in 2009, to hold a position on the General Motors Board, the trust was not to give up more than 50 percent of its 265 million shares, or 17.5% of the company – making it GM’s largest shareholder. The UAW initially acquired these shares as part of the GM’s emergence from bankruptcy in 2009.
What was the outcome of the GM strike?
The strike lasted six weeks, and ended when GM conceded to union demands on wage growth and health care costs because the new contract allows GM to close three factories: the Lordstown Assembly plant, the Baltimore plant, and the Warren Transmission plant.