The United Auto Workers (UAW) has reached a tentative contract deal with General Motors, the last of the Big Three automakers, marking the potential end of a historic six-week strike that has had significant economic and worker gains. The contracts, also tentatively agreed upon with Ford and Stellantis, are the most substantial compensation increases the UAW has secured in decades, including a 25% wage raise over 4.5 years.
The strike’s resolution is important for the automotive industry, contributing 3% of the nation’s GDP. President Biden, who actively supported the negotiations, sees the agreements as a testament to the power of workers and an economic boost. While these deals protect workers during the transition to electric vehicles, the specifics of wage implications remain unclear. Ratification votes are pending, and if rejected, workers may return to striking. These agreements coincide with increased workplace activism in the US, with workers across various industries striking and achieving significant gains. UAW’s relatively new president, Shawn Fain, has ambitious plans to expand unionization in the auto industry.
For further insights on how the UAW strike is affecting suppliers and comments from Seraph’s founder and CEO Ambrose Conroy, you can refer to The Washington Post piece following the link below.