With strike looming, General Motors makes a wage offer, which auto union leader calls 'insulting'

DETROIT (AP) — General Motors' first wage-and-benefit offer to the United Auto Workers on Thursday fell far short of the union's initial demands.

The offer comes just a week before the UAW's national contracts with GM, Stellantis and Ford expire, and even though both sides are far apart, it's a sign of movement on economic issues.

Still, union President Shawn Fain called the offer “insulting." He is threatening to strike against any automaker that hasn't reached a tentative agreement by the time contracts expire at 11:59 p.m. on Sept. 14. A strike against one or more automakers by up to 146,000 auto workers is a real possibility.

GM said in a letter to workers that it's offering a 10% wage increase during a new four-year contract, plus two more 3% one-time payments. It's also offering a $6,000 inflation payment, $5,000 more in lump sums to protect against inflation during the contract, and a $5,000 contract ratification bonus. The company wouldn't say when the pay raises or most of the lump sums would be effective.

https://finance.yahoo.com/news/first-offer-general-motors-falls-162635049.html