Gm strike news

Here are some recent news updates on the General Motors (GM) strike:

Latest Updates:

• November 20, 2019: The United Auto Workers (UAW) union and General Motors (GM) have reached a tentative agreement on a new four-year contract, ending the 40-day strike. The agreement still needs to be ratified by union members.
• November 18, 2019: The UAW and GM have made significant progress in negotiations, with the union's president, Gary Jones, saying that a deal could be reached "in the next few days."
• November 15, 2019: The UAW and GM have agreed on a framework for a new contract, but details are still being worked out.

Background:

• September 16, 2019: The UAW went on strike against GM, affecting over 49,000 workers at 33 plants in the United States, Canada, and Mexico.
• September 24, 2019: The strike expanded to include workers at GM's parts suppliers, affecting an additional 10,000 workers.
• October 2019: The strike had a significant impact on the US economy, with estimates suggesting that it cost the country around $2 billion per day.

Key Issues:

• Wages and Benefits: The UAW is seeking higher wages, improved benefits, and better job security for its members.
• Job Security: The union is concerned about the impact of automation and outsourcing on jobs at GM.
• Health Care: The UAW is seeking to improve health care benefits for its members.
• Profit Sharing: The union is seeking a more equitable profit-sharing plan for its members.

Impact on the Industry:

• Ford and Fiat Chrysler: The strike has had a ripple effect on the industry, with Ford and Fiat Chrysler Automobiles (FCA) also experiencing production disruptions and supply chain issues.
• Automotive Sales: The strike has had a significant impact on automotive sales in the United States, with many dealerships experiencing a shortage of new vehicles.
• Economic Impact: The strike has had a broader economic impact, with estimates suggesting that it could cost the US economy around $3 billion per day.