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General Motors (NYSE:GM) and the Canadian auto workers union have struck a tentative labor agreement shortly after workers initiated a strike at three of the automaker’s facilities Tuesday.
Pending ratification by the union’s members, the contract would likely avert a labor strike against GM, which is concurrently grappling with a significant UAW strike in the United States.
Unifor, representing hourly auto workers in Canada and other private sector employees, announced that the new strike action is temporarily halted to allow members to cast their votes regarding the adoption of the agreement. The move comes in the aftermath of Unifor reaching a prior deal with Ford (F).
Unifor has disclosed that the tentative agreement encompasses approximately 4.3K autoworkers.
Unifor’s National President, Lana Payne, emphasized the critical juncture, stating, “When faced with the shutdown of these key facilities, General Motors (GM) had no choice but to get serious at the table and agree to the pattern.”
The new contract encompasses several key elements, including wage increases, enhancements to pension plans, retiree income support, the addition of paid holidays, and a structured process for transitioning full-time temporary workers into permanent employees.
In response to the strike initiated by Unifor members, GM (GM) released a statement indicating that they have presented a “record economic offer” recognizing the contributions of their represented team members – both past and future.
However, the statement also noted that “there are some final outstanding items to be resolved at the bargaining table.”
