General Motors, UAW Reach Temporary Labor Agreement

Automative industry leader General Motors managed to avert a labor strike from the labor union when it reached a tentative agreement with the negotiators of the United Auto Workers. The UAW confirmed the news late last night about the four-year labor agreement it had reached with GM.

UAW President Dennis Williams said, "We believe that this agreement will present stable long-term significant wage gains and job security commitments to UAW members now and in the future. We look forward to presenting the details of these gains to local union leaders and the membership."

The Detroit Free Press said the labor deal, which will run for four years, will be similar in terms of basic wages it has also reached with Fiat Chrysler Automobiles on Thursday. According to the agreement, all workers under the union will have the capability to reach the top pay of USD29 per hour within eight years. The rest of the deal’s terms were undisclosed.