Home Investing UAW autoworkers officially ratified new contract, union says

UAW autoworkers officially ratified new contract, union says


On Wednesday, the United Auto Workers union (UAW) announced that its members had ratified a new four-year contract, ending weeks of contract negotiations between the union and General Motors.

The contract covers nearly 50,000 UAW members in the United States, and includes increased wages, improved job security, and greater profit sharing for workers. Highlights of the contract include:

• A 3% pay raise for all members in the first and third years, and a 4% lump-sum bonus in the second and fourth years.

• More job security for temporary workers, including the right to transfer into permanent positions after three years of service.

• An expanded profit-sharing program, where non-executive employees will get up to 10% of the company’s pre-tax profits.

• New provisions to prevent workplace harassment, including the ability for workers to file a grievance over workplace conduct.

• Cost of living adjustments for workers on the lower end of the pay scale.

The ratification of the contract is a victory for UAW members, who had threatened to go on strike if it wasn’t approved. GM had also reiterated its commitment to making long-term investments in American jobs.

The new contract could serve as a template for negotiations with Ford Motor Co. and Fiat Chrysler Automobiles, both of which are also expected to begin bargaining soon for their own contracts.

You may also like