{"id":8021,"date":"2023-11-01T10:08:39","date_gmt":"2023-11-01T10:08:39","guid":{"rendered":"https:\/\/infundpros.com\/markets\/stocks\/uaw-reaches-deal-with-gm-ends-coordinated-strikes-against-detroit-automakers\/"},"modified":"2023-11-01T10:08:39","modified_gmt":"2023-11-01T10:08:39","slug":"uaw-reaches-deal-with-gm-ends-coordinated-strikes-against-detroit-automakers","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8021","title":{"rendered":"UAW reaches deal with GM, ends coordinated strikes against Detroit automakers"},"content":{"rendered":"
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\u00a9 Reuters. Striking United Auto Worker union members picket outside the Ford Michigan Assembly Plant in Wayne, Michigan U.S., October 25, 2023. REUTERS\/Rebecca Cook<\/span>
\n<\/i>\n<\/div>\n

(Reuters) – The United Auto Workers (UAW) union reached a tentative agreement with General Motors (NYSE:) on Monday, signaling an end to walkouts that have cost the No. 1 Detroit automaker more than $400 million a week.<\/p>\n

The union has also reached agreements with Ford Motor (NYSE:) and Chrysler-owner Stellantis (NYSE:) over the last few days, in what is seen as significant victories for auto laborers after years of stagnant wages and painful concessions made by the union following the 2008 financial crisis.<\/p>\n

Here is a timeline of events beginning with the election of Fain in March:<\/p>\n

Date Development <\/p>\n

March 25 Shawn Fain wins the race for UAW <\/p>\n

president; vows to take a tough stance <\/p>\n

against the Big Three automakers. <\/p>\n

July 10 The union says it will open contract talks <\/p>\n

with Detroit’s Big Three automakers starting <\/p>\n

July 13. <\/p>\n

July 11 Fain says the union is not afraid to hold a <\/p>\n

strike at any of the automakers without a <\/p>\n

fair contract. <\/p>\n

July 19 Fain meets President Joe Biden at the White <\/p>\n

House as the union briefs the staff on <\/p>\n

contract talks with the automakers. <\/p>\n

Aug. 1 The UAW presents demands to Stellantis, says <\/p>\n

the union is seeking ambitious benefit <\/p>\n

increases from the Detroit Three, including <\/p>\n

double-digit pay rises and defined-benefit <\/p>\n

pensions for all workers. <\/p>\n

Aug. 2 The union presents contract demands to <\/p>\n

General Motors. <\/p>\n

Aug. 3 The union presents contract demands to Ford <\/p>\n

Aug. 8 Fain angrily tosses contract proposals from <\/p>\n

Stellantis in a trash can, citing numerous <\/p>\n

concessions that the Chrysler parent is <\/p>\n

seeking in labor talks. <\/p>\n

Aug. 25 The UAW says 97% of voting members were in <\/p>\n

favor of authorizing a strike at the Detroit <\/p>\n

Three if an agreement is not reached before <\/p>\n

Sept. 14. <\/p>\n

Aug. 31 The union says it has filed unfair labor <\/p>\n

practice charges with the National Labor <\/p>\n

Relations Board (NLRB) against GM and <\/p>\n

Stellantis, saying they have refused to <\/p>\n

bargain in good faith. <\/p>\n

Aug. 31 Ford makes a contract offer to the UAW, <\/p>\n

providing hourly employees with 15% <\/p>\n

guaranteed combined wage increases, lump-sum <\/p>\n

payments and improved benefits over the life <\/p>\n

of the contract. <\/p>\n

Sept. 1 The NLRB says it will investigate the charges <\/p>\n

filed by the UAW. <\/p>\n

Sept 6 The UAW makes a labor contract <\/p>\n

counterproposal on economic issues to Ford. <\/p>\n

Sept. 7 GM makes a counteroffer to the UAW that <\/p>\n

includes a 10% wage hike and two additional <\/p>\n

3% annual lump-sum payments over four years. <\/p>\n

Fain calls the offer “insulting.” <\/p>\n

Sept. 8 Stellantis says it offered U.S. hourly <\/p>\n

workers a 14.5% wage hike over four years but <\/p>\n

no lump-sum payments. <\/p>\n

Sept. 8 Fain says UAW expects to go on strike against <\/p>\n

all three automakers the following week if <\/p>\n

they do not improve their contract offers. <\/p>\n

Sept. 11 Stellantis says it plans to make a new <\/p>\n

counteroffer to the UAW after the union made <\/p>\n

its own revised offer on Sunday ahead of the <\/p>\n

expiration of the current four-year labor <\/p>\n

deal Thursday night. <\/p>\n

Sept. 13 The UAW rejects counteroffers from the <\/p>\n

automakers and outlined plans for strikes <\/p>\n

targeting individual U.S. auto plants in what <\/p>\n

would be its first-ever simultaneous strike <\/p>\n

against the Detroit Three. <\/p>\n

Sept. 15 The UAW launches simultaneous strikes that <\/p>\n

will halt production of some popular models <\/p>\n

at three factories owned by GM, Ford and <\/p>\n

Stellantis. <\/p>\n

Sept. 16 Negotiators for the UAW and Ford have <\/p>\n

“reasonably productive discussions” toward a <\/p>\n

new contract, while officials at Stellantis <\/p>\n

say a proposal to resume work at an idled <\/p>\n

Illinois factory has fallen through. <\/p>\n

Sept. 18 UAW says it will announce strikes at more <\/p>\n

plants on Sept. 22 if no serious progress is <\/p>\n

made in talks. <\/p>\n

Sept. 20 UAW says 90 workers go on strike at <\/p>\n

Mercedes-supplier ZF’s plant in Alabama. <\/p>\n

Sept. 22 UAW will expand its strikes against GM and <\/p>\n

Stellantis, but has made real progress in <\/p>\n

talks with Ford Motor, the union says. <\/p>\n

Sept 24. Ford says despite progress in some areas, it <\/p>\n

still has “significant gaps to close” on key <\/p>\n

economic issues before it can reach a new <\/p>\n

labor agreement with UAW. <\/p>\n

Sept. 28 The UAW makes a new counter-proposal to <\/p>\n

Stellantis, just one day before it was set to <\/p>\n

strike at additional Detroit Three <\/p>\n

facilities. <\/p>\n

Sept. 29 The UAW will walk off the job at an <\/p>\n

additional plant at General Motors and at <\/p>\n

Ford, says Fain. The new strike will not <\/p>\n

extend to Stellantis, which called before the <\/p>\n

scheduled 10 a.m. ET announcement to make <\/p>\n

significant changes in its contract proposal. <\/p>\n

Oct.2 GM and Ford say they are laying off another <\/p>\n

500 workers at four Midwestern plants. <\/p>\n

Separately, the UAW confirms it presented a <\/p>\n

new contract offer to GM. GM says it has <\/p>\n

received the counterproposal “but significant <\/p>\n

gaps remain.” <\/p>\n

Oct. 3 Ford says it had made a new contract offer <\/p>\n

but says a dispute over battery plants <\/p>\n

remained unresolved. Ford says the new offer <\/p>\n

boosts wages for temporary workers, increases <\/p>\n

company 401(k) contributions and further <\/p>\n

shrinks time needed to get to the top wage <\/p>\n

rate. <\/p>\n

Oct. 6 The UAW holds off on additional strikes <\/p>\n

against Detroit Three auto plants, citing <\/p>\n

GM’s unexpected willingness to allow workers <\/p>\n

at joint-venture battery plants to be covered <\/p>\n

by union contracts. <\/p>\n

Oct. 11 GM, Ford and Stellantis all agree to raise <\/p>\n

base wages by between 20% and 23% over a <\/p>\n

four-year deal. Ford and Stellantis agree to <\/p>\n

reinstate cost-of-living adjustments, or <\/p>\n

COLA. <\/p>\n

Oct. 12 The UAW shuts down Ford’s biggest plant <\/p>\n

globally, saying the automaker refused to <\/p>\n

move further in bargaining. UAW negotiators <\/p>\n

are expected to turn their attention to talks <\/p>\n

with Stellantis. <\/p>\n

Oct. 13 Fain says the union will not expand its <\/p>\n

strike at the moment, but warns that members <\/p>\n

would now walk out of additional facilities <\/p>\n

without warning rather than wait until <\/p>\n

Fridays to announce new plans. <\/p>\n

Oct. 13 A senior Ford executive says the automaker is <\/p>\n

“at the limit” of what it can spend on higher <\/p>\n

wages and benefits for the UAW. Stellantis <\/p>\n

and Ford say they will temporarily lay off <\/p>\n

1,250 employees due to the impact of the UAW <\/p>\n

strike. <\/p>\n

Oct. 16 Ford executive chairman Bill Ford urges the <\/p>\n

UAW union to end a 32-day strike and reach a <\/p>\n

new labor agreement, and warns of the growing <\/p>\n

impact to the automaker and the U.S. economy. <\/p>\n

Oct. 20 General Motors and Stellantis raise their <\/p>\n

offer to striking auto workers, matching <\/p>\n

Ford’s proposed 23% wage hike. Fain says <\/p>\n

“there is more to be won.” <\/p>\n

Oct. 23 An additional 6,800 UAW members go on strike <\/p>\n

at Stellantis’s largest assembly plant. <\/p>\n

Oct. 24 General Motors withdraws its 2023 profit <\/p>\n

outlook just ahead of a new UAW walkout at <\/p>\n

its Arlington, Texas, factory. <\/p>\n

Oct. 25 UAW and Ford announce tentative agreement on <\/p>\n

labor deal that will last 4-1\/2 years and <\/p>\n

provide a record pay increase. <\/p>\n

Oct. 26 Ford withdraws full-year results outlook due <\/p>\n

to “uncertainty” over pending ratification of <\/p>\n

its deal with the union, and warned of <\/p>\n

continued pressure on electric vehicles. <\/p>\n

Oct. 28 Stellantis and UAW reach tentative agreement <\/p>\n

on new labor contract, the union said. <\/p>\n

Oct. 28 UAW expands strike against General Motors to <\/p>\n

include an engine plant, in a move that could <\/p>\n

stall GM’s large pickup production. <\/p>\n

Oct. 30 GM and the UAW union reached a tentative <\/p>\n

agreement, with union members winning record <\/p>\n

pay hikes to end six weeks of a coordinated <\/p>\n

strike against the Detroit Three automakers. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Striking United Auto Worker union members picket outside the Ford Michigan Assembly Plant in Wayne, Michigan U.S., October 25, 2023….<\/p>\n","protected":false},"author":1,"featured_media":3352,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":{"0":"post-8021","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-stocks"},"yoast_head":"\nUAW reaches deal with GM, ends coordinated strikes against Detroit automakers | inFundPros<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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