UAW reaches deal with GM, ends coordinated strikes against Detroit automakers
(Reuters) -General Motors and the United Auto Workers (UAW) union reached a tentative agreement, two sources familiar with the matter told Reuters on Monday, effectively ending the simultaneous strike against the Detroit Three automakers with record wage and benefit hikes.
The accord follows agreements reached in the last few days by the union with Ford Motor (NYSE:F) and Chrysler owner Stellantis (NYSE:STLA) in what experts say stand as significant victories for auto laborers after years of stagnant wages and painful concessions made by the union following the 2008 financial crisis.
Here is a timeline of events beginning with the election of Fain in March:
Date Development
March 25 Shawn Fain wins the race for UAW
president; vows to take a tough stance
against the Big Three automakers.
July 10 The union says it will open contract talks
with Detroit's Big Three automakers starting
July 13.
July 11 Fain says the union is not afraid to hold a
strike at any of the automakers without a
fair contract.
July 19 Fain meets President Joe Biden at the White
House as the union briefs the staff on
contract talks with the automakers.
Aug. 1 The UAW presents demands to Stellantis, says
the union is seeking ambitious benefit
increases from the Detroit Three, including
double-digit pay rises and defined-benefit
pensions for all workers.
Aug. 2 The union presents contract demands to
General Motors (NYSE:GM).
Aug. 3 The union presents contract demands to Ford
Aug. 8 Fain angrily tosses contract proposals from
Stellantis in a trash can, citing numerous
concessions that the Chrysler parent is
seeking in labor talks.
Aug. 25 The UAW says 97% of voting members were in
favor of authorizing a strike at the Detroit
Thr
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