New four-year agreement covers approximately 74,000 hourly employees located in more than 80 U.S. facilities
UAW members have voted to ratify a new collective bargaining agreement with General Motors (GM).
The union reached a tentative agreement with GM on Sept. 26, following a two-day strike against the company.
The new four-year agreement covers approximately 74,000 hourly employees located in more than 80 U.S. facilities. It will expire on Sept. 14, 2011.
UAW President Ron Gettelfinger commented: “We entered these negotiations with a clear mandate from our membership,” Gettelfinger said. “With their help and solidarity, we were able to achieve our goals. We protected jobs, wages and benefits for both active and retired General Motors workers -- and we helped protect middle-class manufacturing jobs in communities throughout the United States.”
Rick Wagoner, GM chief executive officer and chairman of the Board, said: "We are very pleased that our UAW-represented employees have ratified the new labor contract. I especially thank UAW President Ron Gettelfinger and Vice President Cal Rapson, as well as the members of the GM and UAW negotiating teams, for their hard work in reaching an innovative agreement that effectively addresses the needs of our employees and retirees, while providing a basis for improved competitiveness that will support future U.S. investments."
UAW said the main terms of the agreement include:
• Economic gains for a typical GM assembler will total $13,056 during the life of the agreement.
• A moratorium on plant closings and outsourcing of work over the life of the agreement.
• Comprehensive health care and prescription drug coverage for active workers.
• For the first time, the agreement will provide an increase in basic pension benefits for retirees and a lump-sum payment in the first year of the agreement.