GM Offers 'Record Contract' To Striking UAW Members, Automaker Says

DETROIT — General Motors Company offered Friday what it calls a "record offer" to striking members in the United Auto Workers union.

The automaker's new offer would push a GM hourly employee represented by the union to $40.39 per hour by the end of the agreement, up from $32.32 currently. Although the automaker said the plan is a "faster path to max wages," they didn't specify the new timeline.

The new offer also comes as the automaker said there's "substantial movement" in key areas between the two sides.

Other highlights in the offer include:

• Reinstatement of COLA for seniority team members starting year one.
• Wage increases combined with forecasted COLA payouts to increase team member pay by over 30% in this contract, GM says.
• Job security: Since Sept 2019, GM has invested more than $13 billion across more than 20 U.S. plants; product commitments for every plant and opportunities for all team members.
• Up to 5 weeks of vacation, Juneteenth, and 2 weeks of paid parental leave.
• Faster path to max wages: within the life of the contract, all seniority employees reach max wage rate.
• All active full-time temps with one year of employment will be converted to seniority at ratification and going forward.
• Temporary team member wages increased by 26 percent to $21/hour.
• Profit sharing now available for temporary team members who have worked at least 1,000 hours.
• Retirement: Company contributions increased by 25 percent (from 6.4 percent to 8.0 percent of wages) for active in-progression team members, regardless of your contribution.

"It is time for us to finish this process, get our team members back to work and get on with the business of making GM the company that will win and provide great jobs in the U.S. for our people for decades to come," the automaker said.

United Auto Workers President Shawn Fain is expected to provide an update from the union Friday afternoon.

The offer also comes a day after fellow Detroit area automaker, Ford Motor Company, laid off another 150 workers in the metro Detroit area. The total number of Ford layoffs has climbed over 2,500. Nearly 3,000 GM autoworkers were laid off due to the ongoing strike.

So far, the strike has cost the industry $5.5 billion, which includes $579 million in lost wages for workers and $2.6 billion in losses for automakers, according to an economic assessment from East Lansing-based Anderson Economic Group.

The historic UAW strike against Detroit's Big Three began on Sept. 8 after the union's contract expired without a new one in place. It's the first time ever the union launched a strike against all three automakers at the same time.