GM has put a new offer on the table in ongoing negotiations with the United Auto Workers (UAW). The UAW is currently striking at several GM facilities, with the initial walkouts staged last month following the expiration of the previous labor contract on September 14th. The targeted UAW strikes have resulted in disruptions and layoff at several other GM facilities.
Per a report from Reuters, GM said it had submitted its sixth contract proposal since negotiations began. The UAW and GM first sat down to discuss the new contract in July.
“We believe we have a compelling offer that would reward our team members and allow GM to succeed and thrive into the future,” GM said in a statement. “We continue to stand ready and willing to negotiate in good faith 24/7 to reach an agreement.”
UAW officials did not comment. However, a source familiar with the matter did indicate that contract negotiations had progressed in a few key areas. The UAW reportedly submitted its previous counterproposal on September 21st.
The UAW has demanded that GM provide a record contract on the back of record profits realized by the automaker over the last several years. The union initially demanded a pay increase of more than 40 percent, while GM has made a counterproposal that includes a 20-percent wage increase. The UAW has also called for a substantial decrease in the time it takes workers to reach top wages, dropping from eight years to 90 days. GM has proposed cutting the time to reach top wages to four years.
The UAW is now striking all three of the Big Detroit automakers, a first in the history of the labor union. It’s estimated that 25,300 workers of the union’s 146,000 membership are currently on strike across the Big Three. One analysis places GM’s losses at $21 million a day.