General Motors on Thursday offered a 10% wage increase to the United Auto Workers (UAW) ahead of a Sept. 14 deadline, and the union’s president called it an "insulting proposal that doesn’t come close to an equitable agreement for America’s autoworkers."
UAW President Shawn Fain said GM made the offer after refusing to bargain in good faith for the past six weeks and having federal labor board charges filed against it.
"GM either doesn’t care or isn’t listening when we say we need economic justice at GM by 11:59 p.m. on September 14. The clock is ticking. Stop wasting our members’ time. Tick tock," Fain wrote in a statement.
UAW PRESIDENT WARNS STRIKE COMING NEXT WEEK FOR ANY DETROIT AUTOMAKER WITH NO DEAL BY DEADLINE
GM’s offer also included additional 3% annual lump sum payments over four years and the recognition of Juneteenth as a paid holiday, while eliminating two steps for temporary and in-progress employees to max pay.
"We have progressed to more detailed discussions in our 2023 UAW/GM labor negotiations, and today we put an economic offer on the table to the union," a GM spokesperson said in a statement sent to FOX Business. "Our offer has been developed considering everything in our environment, including competitor offers and what is important to our team members. It includes well-deserved wage improvements that far exceed the 2019 agreement."
LOOMING UAW STRIKE COULD COST US ECONOMY MORE THAN $5B IN JUST 10 DAYS
The union is seeking a 46% pay raise over four years along with an array of additional benefits, including a reduction of the workweek to 32 hours for 40 hours worth of pay for its 146,000 members at Ford, GM and Dodge parent Stellantis, whose latest offer the UAW rejected last month.
Last week, Ford said it had offered a 9% wage increase through 2027 and 6% lump payments, while Stellantis said Wednesday it planned to make a counteroffer to the UAW this week.
CLICK HERE TO GET THE FOX BUSINESS APP
FOX Business reporter Breck Dumas and Reuters contributed to this report.
