September 26, 2007
Tentative GM-UAW Deal Ends Two-Day Strike
General Motors and the United Auto Workers reached a tentative deal early this morning to end a massive national strike that brought the Detroit-based automaker to a halt for two days. Plants will be up and running again today as thousands of unionized employees head back to work.
The four-year contract agreement still needs to be ratified by UAW members and its details are sketchy, but the Wall Street Journal (subscription) reports that the deal includes "a historic restructuring of GM's obligations for UAW retiree health care." According to a GM press release, the agreement establishes "an independent retiree health care trust" for the approximately 74,000 unionized GM workers.
"This agreement helps us close the fundamental competitive gaps that exist in our business," GM Chairman and CEO Rick Wagoner said in the release.
"'We're proud of this tentative agreement," UAW President Ron Gettelfinger also said in a statement, "and we look forward to getting into the field and discussing it with our membership."
The Detroit News and Detroit Free Press have full coverage of the labor negotiations and the tentative agreement.
