GM’s Counteroffer to UAW Shows Big Gap Remains as Strike Deadline Looms

livemint.com:

General Motors delivered a counteroffer to the United Auto Workers union Thursday that shows the sides remain far apart on pay and other benefits, one week out from a strike deadline. The Detroit carmaker offered a 10% wage increase among other benefits, far short of the UAW’s demand of at least a 40% wage hike. The offer follows a similar one from Ford Motor last week, which called for a 9% wage increase.

Both companies also proposed additional inflation-protection payments and signing bonuses totaling more than $16,000. UAW President Shawn Fain in a statement called the GM proposal insulting and said the company is wasting union members’ time. Last week, Fain responded similarly to the proposal from Ford.

Jeep-maker Stellantis is planning to deliver its counteroffer to the union by the end of the week, a spokeswoman said on Wednesday. The three companies face a deadline of Sept. 14 at 11:59 p.m.

to reach tentative agreements with the UAW on a new four-year contract. Fain has said the union is prepared to strike at any of the three companies that haven’t reached a deal by that date, potentially taking 146,000 factory workers off the job. Write to Nora Eckert at nora.eckert@wsj.com