The end of the billions-worth strikes at the American automaker General Motors (GM) seems to be near. Trade union members have agreed to the negotiating result of trade union United Auto Workers (UAW) with GM that was reached last week, according to the automotive news site Auto News.
The strikes at GM, the first in twelve years at the group, have been going on for over a month and have cost more than two billion dollars, according to analysts. Among other things, employees are dissatisfied with their wages. They also disagree with the temporary status of employees who sometimes work for GM for years on end.
The new collective agreement applies to tens of thousands of employees. It would be a four-year agreement on, among other things, a structural salary increase of 3 percent for permanent staff. Contractor staff would receive 4 percent. Furthermore, GM would like to invest $ 9 billion in its American factories. It is possible that employees will start working again on Saturday.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
