United Auto Workers leaders endorse new contract
DETROIT (AP) — Union leaders from General Motors factories around the country have endorsed a new four-year contract with the company.
They are recommending that GM's 48,500 factory workers approve the deal in votes during the next week.
The agreement reached Friday includes a $5,000 signing bonus and improved profit-sharing instead of hourly pay raises for most of the workers. About 2,400 entry-level workers will get raises. They now make $14 to $16 per hour, about half the pay of a longtime UAW worker.
Profit-sharing will be a minimum of $3,500 next year.
The union now will focus on negotiations with Chrysler, and Ford will be next.
Since Chrysler isn't making as much money as GM, workers there probably won't see as good of a deal.