FOX Business’ Grady Trimble reports from the UAW GM strike on developing negotiations as the strike enters its fifth week.
The United Auto Workers announced a tentative agreement with General Motors on Wednesday to end the GM autoworkers strike that has lasted longer than a month.
Continue Reading Below
“The number one priority of the national negotiation team has been to secure a strong and fair contract that our members deserve,” Terry Dittes, vice president of UAW’s GM Department, said in a statement. “Out of respect for our members, we will refrain from commenting on the details until the UAW GM leaders gather together and receive all details.”
Shares of GM jumped at the news Wednesday morning.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS COMPANY | 37.02 | +0.76 | +2.10% |
Nearly 50,000 rank-and-file members now need to vote on the agreement. Usually, once a tentative agreement is reached, workers head back to the job since the ratification vote takes a couple of weeks. The strike is not technically over, but this is a positive sign.
“Another thing to keep an eye on is what [UAW members] might be doing once they reach a tentative agreement. Will they go back to work immediately or stay out?” Kristin Dziczek of the Center for Automotive Research told FOX Business.
DETROIT, MI – JULY 16: General Motors Chairman and CEO Mary Barra speaks while and United Auto Workers President Gary Jones (right) listens before they open the 2019 GM-UAW contract talks with the traditional ceremonial handshake on July 16, 2019 in
“This council could vote to stay out on strike while they consider ratification. That is an extra measure of caution just in case members vote this down,” she said, adding that UAW Fiat Chrysler Automobiles employees voted one down in 2015.
Both parties had been in negotiations stretching into nights and weekends. The union called for a strike starting Sept. 15 after expressing discontent with GM’s profit-sharing formula, production of vehicles in Mexico, a potential change in health care cost-sharing and pathways for temporary workers.
Local UAW chapter leaders have been summoned to Detroit for a meeting on Thursday, FOX Business confirmed on Monday. The meeting was expected to center on a tentative agreement.
Both GM’s and UAW’s headquarters are in Detroit.
FOX Business’ Ken Martin and Brittany De Lea contributed to this report.
