GM: agreement reached with UAW union

(CercleFinance.com) - The United Auto Workers announced late on Friday that it has reached a collective agreement with GM, ending the longest automotive strike at the US carmaker in 50 years.


With the contract ratified, UAW workers will begin to report to work as instructed by General Motors.

The ratified contract includes a signing bonus financial package of 11,000 dollars per member, performance bonuses, two 3% annual raises and two 4% lump-sum payments and holding the line on health care costs.

Now that the General Motors strike has ended and the agreement ratified, the UAW now plans to proceed to hammer out a new agreement with Ford.

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