United Auto Workers members nationwide voted overwhelmingly this week to ratify the union's tentative agreement with General Motors. The vote officially ends the historic six-week strike, which began in September when 48,000 unionized workers walked off the job in an effort to secure higher pay and greater employment protections.

"General Motors members have spoken," said Terry Dittes, the vice president and director of the UAW's GM department. "We are all so incredibly proud of UAW-GM members who captured the hearts and minds of a nation."

The UAW and GM ($GM) agreed upon the tentative agreement on October 16. The voting period for UAW members to ratify the deal began on October 19 and ended Friday evening.

Under the four-year agreement, both hourly and salaried workers will receive wage increases, additional paid holidays, new signing bonuses, and are able to keep their current healthcare plans. GM will also offer hefty bonuses to encourage eligible workers to retire this year.

GM, however, will continue with its plans to close several manufacturing facilities in Michigan, Maryland, Ohio, and Ontario. The closures are part of GM's overall restructuring plan that will cut its total salaried staff by 15 percent.

Mary Barra, GM's chairman and CEO, said the agreed-upon contract provides workers with "a strong wage and benefit package and additional investment and job growth" in the company's domestic operations. In negotiations, the automaker also agreed to $7.7 billion worth of investments in the U.S., including a commitment to build new products in Detroit.

"As one team, we can move forward and stay focused on our priorities of safety and building high-quality cars, trucks and crossovers for our customers," Barra added in a statement Friday.

For 40 days, striking workers forewent GM paychecks and received just $275 a week in strike pay from the union. UAW President Gary Jones thanked "members' families and their local communities for their outpouring of support" during the strike, which was the longest auto strike in more than 50 years.

"Our members not only joined together in solidarity but felt the support of their whole community throughout this important stand," Jones added in a statement after voting closed on Friday.

The UAW said that workers will begin immediately getting back to work.

Share:
More In Business
Stretching Your Dollar: How to Negotiate Medical Bills
With high healthcare costs, bills can quickly add up. In some cases, it is possible to negotiate your medical bills. Barak Richman, law professor at George Washington University, joined Cheddar News to discuss the easiest way to talk to medical debt companies about what's owed.
Stretching Your Dollar: Navigating Insurance
Millions of people have selected insurance plans for 2024 but sometimes navigating them can be tricky time consuming and expensive. Paula Pant, host of 'Afford Anything' podcast, joined Cheddar News to break down what's needed to know about their insurance plans.
Study: Over 58% of Hybrid Workers Are 'Coffee Badging'
With more employees being called back to the office, many workers are suddenly protesting by being in the office for as little time as possible. As the term suggests, coffee-badging means coming in for just enough time to have a cup of coffee, show your face, and swipe your badge.
Securitize: Join The Private Credit Boom
Cheddar News' Need2Know is brought to you by Securitize, which helps unlock broader access to alternative investments in private businesses, funds, and other alternative assets. The private credit boom is here and the Hamilton Lane Senior Credit Opportunities Fund has tripled in assets under management in just six months from November 2022 through April this year. Visit Securitize.io to learn more.
Load More