In a brief statement on the deal, GM said: “We can confirm the UAW`s statement regarding a proposed interim agreement. More details will be announced in due course. General Motors and the United Auto Workers have reached a preliminary agreement to end the strike that began a month ago, the union said Wednesday. The UAW GM National Council will vote on the deal on Thursday. As soon as the UAW National GM Council votes in favor of the proposed interim agreement, the language of the contract will become a provisional agreement and will be shared with the 45,000 members of the UAW-GM. They will then vote on the agreement and, when it is adopted, the agreement will be ratified and become the new four-year contract worker under which they will work. The agreement still needs to be ratified by the core union members before it officially enters into force. Normally, it only takes a few days to hold local briefings and votes. If the National Council reviews the terms of the agreement, it will also decide whether nearly 50,000 workers should remain on strike or whether they should return to work before full membership ratifies the agreement. GM confirmed that a proposed deal had been reached and did not provide any further details. GM shares rose 1.7% that day by 1 P.m., after falling 10% at one point during the strike. Stock prices had rallied in recent days, as expectations of a deal rose. General Motors and the UAW reached a tentative agreement on a new contract on Wednesday, the 31st day of a nationwide strike.
The provisional agreement, if final, would solve the most immediate challenge facing Barra and should provide a guarantee in calculating labour costs over the next four years. People close to GM and the UAW told La Presse Libre that it was important to conclude a new provisional contract with Aramark, around the same time as a contract with GM. Otherwise, UAW workers on both sides will face the possibility of crossing the picket lines of others. If the National Council agrees, the proposal will officially become a provisional agreement that will be submitted for ratification to GM Hours workers. Ratification is expected to take a week or two. The two sides will continue to strive to reach a provisional agreement before considering alternatives, people close to both sides said. “We managed to do that until it was ratified,” Volikov said. “For me, I am ready to stay outside for as long as it takes to reach a fair agreement. If we get a fair treaty, it will show that the unions are still powerful, and that was a struggle for the middle class. In the past, the union has threatened to change its target company, Dziczek said, which is often enough to resume talks and reach an agreement. “In collective bargaining, no party really rows the boat, they row it together,” Dziczek said. “But when one rows in one direction and the other rows in another direction, they go around in circles, which is what we see here. It must be a compromise between the two parties and they must talk and focus on reaching a provisional agreement and ending the strike.
(WXYZ) – United Auto Workers and General Motors have reached a provisional agreement on a new four-year contract. It happened on the 31st day of the strike. The proposed interim agreement will be reviewed by the National GM Council, convened Thursday morning for a meeting in Detroit. . . .