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GM: UAW workers begin strike

(CercleFinance.com) - GM shares are down 3% on Monday, after about 50,000 unionized workers walked out early Monday morning after failing to reach a labor deal with the US carmaker.

UAW workers went on strike after the 2015 collective bargaining agreement expired this weekend.

In a statement, the UAW union said it wants to secure fair wages, affordable healthcare, profit sharing, job security and a defined path to permanent seniority for temporary workers.

"We stood up for General Motors when they needed us most," said UAW vice-president Terry Dittes.

GM, meanwhile, said that it has presented a "strong offer" that includes over 7 billion dollars in US investments, more than 5,400 jobs, higher pay and improved benefits.

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