GM, union reach new deal
Detroit, September 18, 2011
General Motors Company and the United Auto Workers (UAW) union have reached a proposed contract for about 48,500 production workers that would create new US factory jobs and include profit-sharing bonuses.
The proposed contract, which must be ratified by rank-and-file workers, represents the first since US taxpayers bailed out GM and Chrysler Group in 2009.
Details of the tentative deal reached late on Friday were being withheld until it could be reviewed by UAW officials from around the country at a meeting on Tuesday in Detroit.
The proposed contract would recall about 570 GM workers currently on layoff, revive a now-idled assembly plant in Tennessee and pay signing bonuses of about $5,000 for each worker, a source said.
The UAW chose to complete negotiations with GM first, before reaching a deal with Chrysler and finally turning to Ford Motor Company.
GM said it expected the union would complete ratification votes within a week to 10 days.