General Motors latest contract offer includes 20% wage increase, 5 weeks of vacation, more health coverage
DETROIT (FOX 2) - General Motors has sent the autoworkers union a contract offer they called "unprecedented" that included a 20% wage increase cost-of-living protections for some employees, and up to five weeks of vacation.
The latest offer comes hours before the UAW's contract with the Detroit auto manufacturers ends, which its president has said is a deadline before they initiate a strike.
Referring to it as a record offer, the latest contract pitch from GM includes updates to wages, inflation protection, healthcare, retirement security, and benefits.
Wages
The offer includes 20% wage increases including a 10% increase after one year on the job. Temporary workers would also receive up to $20 an hour.
Cost-of-living-Adjustments
General Motors said there would be protection for "maximum wage earners."
Health care
There would be no change to health insurance premiums as well as a 25% increase to the retirement healthcare plan
Retirement
General Motors offered $500 for retirees and $1,000 to employees.
Work-life balance
UAW workers would get Juneteenth off, two weeks of parental leave, and up to five weeks of vacation.
What does the UAW want from Ford, GM, and Stellantis?
"That is what is on the table for you: a historic proposal that rewards our team members, sets us up for the future, and continues a profit-sharing program so we all benefit from the company's success" read a statement from GM CEO Mary Barra.
The UAW has pitched a 36% wage increase and pay increases that match inflation. They've also asked for more time off and paid holidays, as well as promises for temporary workers to be converted to full-time status immediately and better benefits for retirees.
During the union's update Wednesday, their president said that progress has been made but there was still a large gap between what was offered and what is requested.
If a strike is initiated, it'll look a little different from previous strikes. The UAW is expected to scale up their protects at different plants as bargaining continues.
Check out a breakdown of what workers need to know if a strike happens here.