This article was last updated on April 16, 2022
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A tentative agreement on a four-year labor contract that enhances profit sharing and boost job vacancies has been worked out between General Motors Co. (GM) and the United Auto Workers.
Harley Shaiken, labor professor at the University of California at Berkeley said “This is a contract negotiated in tough times, when the economy is uncertain and a battered industry is still in recovery. The union is saying, ‘Look, we’ve addressed job security when that is vital to our members and to the whole economy.”
While refusing to divulge exact details of the contract, the UAW President Bob King said in a statement that the contract will include health care facilities, profit sharing with “far greater transparency” and also prompt GM to invest in the locals by bringing back outsourced work and by investing in the plants.
Cathy Clegg, GM vice president for labor relations, said in a statement that “We worked hard for a contract that recognizes the realities of today’s marketplace, enabling GM to continue to invest in U.S. manufacturing and provide good jobs to thousands of Americans.”
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However, we should expect further worsening on joblessness in the country in the next quarter because of political anxieties in the Mcomment_IDdle East