Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
GM commits to spend $8.3 billion, upgrade 12 U.S. plants under UAW pact
To my regret, this is too old for LBN.
Hat tip, Jalopnik: GM To Invest $8.3 Billion On U.S. Plants And American Jobs
GM commits to spend $8.3 billion, upgrade 12 U.S. plants under UAW pact
Deal includes $60,000 bonus for up to 4,000 workers who retire in 2016
Mike Colias
mcolias@crain.com
Automotive News
October 28, 2015 - 6:15 pm ET -- UPDATED: 10/28/15 7:10 pm ET - adds details
DETROIT -- The UAW’s tentative labor contract with General Motors includes a commitment to spend $8.3 billion over four years on upgrades to 12 U.S. plants, along with the union’s first significant wage increases in a decade and an $8,000 signing bonus to persuade workers to support the package. ... The union said the $8.3 billion in investment would “create and/or retain” more than 3,300 jobs.
About $6.4 billion of the planned outlays have previously been announced by GM. The investment “is designed to ensure optimal utilization of the company’s U.S. facilities and provide job growth,” the union said in its contract summary. ... The details regarding future product investments were thin relative to past contracts, and mostly a rundown of spending earmarked for new-vehicle programs that GM has already disclosed.
Among the biggest outlays are $1.2 billion for a new paint shop at GM’s full-size pickup plant in Fort Wayne, Ind., and $1.4 billion for an expansion of the Arlington, Texas, plant where the company produces large SUVs.
The company also will offer buyouts worth up to $60,000 to up to 4,000 eligible UAW members who agree to retire between Feb. 1 and May 1, the union said, in a move aimed at offsetting the added fixed labor costs from the wage increases.
Deal includes $60,000 bonus for up to 4,000 workers who retire in 2016
Mike Colias
mcolias@crain.com
Automotive News
October 28, 2015 - 6:15 pm ET -- UPDATED: 10/28/15 7:10 pm ET - adds details
DETROIT -- The UAW’s tentative labor contract with General Motors includes a commitment to spend $8.3 billion over four years on upgrades to 12 U.S. plants, along with the union’s first significant wage increases in a decade and an $8,000 signing bonus to persuade workers to support the package. ... The union said the $8.3 billion in investment would “create and/or retain” more than 3,300 jobs.
About $6.4 billion of the planned outlays have previously been announced by GM. The investment “is designed to ensure optimal utilization of the company’s U.S. facilities and provide job growth,” the union said in its contract summary. ... The details regarding future product investments were thin relative to past contracts, and mostly a rundown of spending earmarked for new-vehicle programs that GM has already disclosed.
Among the biggest outlays are $1.2 billion for a new paint shop at GM’s full-size pickup plant in Fort Wayne, Ind., and $1.4 billion for an expansion of the Arlington, Texas, plant where the company produces large SUVs.
The company also will offer buyouts worth up to $60,000 to up to 4,000 eligible UAW members who agree to retire between Feb. 1 and May 1, the union said, in a move aimed at offsetting the added fixed labor costs from the wage increases.
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
