GM, UAW Reach Tentative Agreement, Potentially Putting An End To Costly 6-Week Strike
Portfolio Pulse from Adam Eckert
General Motors (GM) has reached a tentative agreement with the United Auto Workers (UAW), potentially ending a six-week strike. The deal is similar to those reached with Ford (F) and Stellantis (STLA), including a 25% hourly pay increase and cost-of-living allowances over the contract's duration. Last week, GM reported Q3 results that beat expectations but withdrew its full-year earnings guidance due to the strikes.
October 30, 2023 | 2:53 pm
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Ford has previously reached a similar agreement with UAW, which included a 25% pay increase.
Ford is mentioned as a comparison to GM's situation. It has already reached a similar agreement with UAW, which could have implications for its labor costs.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Stellantis has previously reached a similar agreement with UAW, which included a 25% pay increase.
Stellantis is mentioned as a comparison to GM's situation. It has already reached a similar agreement with UAW, which could have implications for its labor costs.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
GM's tentative agreement with UAW could end the strike that has affected its operations and earnings guidance. The deal includes a 25% pay increase, which could impact future earnings.
The strike has been a significant headwind for GM, affecting its operations and causing it to withdraw its full-year earnings guidance. The tentative agreement could end the strike, but the included pay increase could impact future earnings.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100