“Workers celebrate deal with GM, show union power in industry”
October 21, 2019
“Details of the four-year pact weren’t released, but GM’s latest offer to end the monthlong strike included wage increases and lump-sum payments, top-notch health insurance at little cost to workers, promises of new products for many U.S. factories and a path to full-time work for temporary workers…
The strike immediately brought GM’s U.S. factories to a halt, and within a week, started to hamper production in Mexico and Canada. Analysts at KeyBanc investment services estimated the stoppage cut GM vehicle production by 250,000 to 300,000 vehicles. That’s too much for the company to make up with overtime or increased assembly line speeds. Analysts say the costs to GM will hit around $2 billion…”