General Motors Offers United Auto Workers 20% Wage Hike: Report

General Motors (NYSE:GM) has put forward a proposal for the United Auto Workers members during an ongoing strike that has stretched on for over three weeks.

The centerpiece of GM’s offer, which it announced Monday, is a 20% wage hike spread over the contract’s duration, which would elevate the income of most top-tier workers to a $39.24 per hour, equivalent to approximately $82,000 annually. Additionally, GM has pledged to reinstate cost of living adjustments, and committed to improve the work-life balance for the workers, according to a report from WEYI Mid-Michigan NOW.

Analysts Question EV Battery Plant Agreement: On Friday, the automaker and the UAW agreed to union representation at electric vehicle battery plants, marking a historic stride toward unionizing this segment of the workforce.

Despite these developments, some ambiguity persists concerning the exact scope of the groundbreaking agreement. In a note released Monday, UBS analysts raised questions regarding the specifics of which types of battery plants fall under the UAW’s purview, according to MT Newswires.

A crucial distinction lies between battery electric vehicle assembly and parts plants and battery cell plants like Ultium Cells, a GM joint venture with LG Energy Solutions, UBS said.

Shares of General Motors gained 0.29% Monday, rising for the second straight session after hitting the lowest point since October 2020 on Thursday.

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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