GM, UAW may be near labor deal after negotiating session

DETROIT — The United Auto Workers and General Motors The meeting reconvened at noon on Friday after intense talks Thursday evening and morning, according to sources familiar with the discussions.

The potential deal builds on the union’s Wednesday meeting with Ford The finish line appears to be close, said three sources, who agreed to anonymity because the negotiations are private.

Two sources said GM Chief Executive Mary Barra and UAW President Shawn Fain were involved in the marathon negotiations, but union leaders People are actually negotiating virtually.

Fein attempts to negotiate with GM and Chrysler parent company simultaneously star, they were holding talks with the union about 30 minutes apart from each other. Stellantis and North America chief operating officer Mark Stewart also held extensive talks overnight, two sources said.

Stellantis also appears to be close to a deal, but it’s unclear when the two sides will reconvene.

Negotiations remain fluid and could change, sources said. Spokespeople for GM, Stellantis and the UAW declined to comment on the specifics of the talks.

The tentative deal could end the union’s six-week targeted strike after the two sides failed to reach a new deal by a Sept. 14 deadline. The union recalled striking Ford workers after reaching a tentative deal with the automaker.

Ford’s agreement includes a 25% pay increase over the life of the agreement, with an initial 11% increase. These raises and benefits cumulatively raise top wages to more than $40 an hour, with starting wages increasing 68% to more than $28 an hour.

It also reinstated cost-of-living adjustments, shortened the eight-year path to the top wage to three years, and allowed the right to strike due to factory closures, among other significantly enhanced benefits.

Any tentative deal must still be approved by local UAW leaders and then by a simple majority of workers represented by each automaker’s union.

The progress comes after contentious negotiations between UAW leaders, including Fain, and company executives, which saw thousands of union members walk out of the plant and onto picket lines beginning Sept. 15.

Strikes cost General Motors, Ford and star Billions of dollars in lost production. Ford said Tuesday that the union’s strike has cost it $1.3 billion and that if the agreement is approved by members, labor costs will increase by about $850 to $900 per vehicle produced.

The proposed deal sets a record for the EU, with negotiations far more confrontational and strategic than in recent history.

The union launched negotiations with all three automakers simultaneously, breaking recent history when UAW leaders bargained with each automaker individually, picking a major company to focus efforts on and then working out the remaining deals under the leading tentative agreement. .

It’s unclear how much these labor deals will increase labor costs for the companies, which have argued that giving in to all union demands would affect their competitiveness and even long-term viability.

Deutsche Bank recently estimated that over the life of the agreement, total costs would increase by $6.2 billion for Ford; $7.2 billion for General Motors; and $6.4 billion for Stellantis.