The United Auto Workers (UAW) has announced that it will not expand its current strike against General Motors (GM), Ford (F) and Stellantis (STLA) as talks aimed at reaching new collective agreements with each company continue.
The UAW’s strike against the Detroit automakers is in its 35th day with no immediate end in sight. However, the companies continue to put forward new labour proposals to the union.
General Motors has made its latest offer public. It includes wage increases of 25% over four years, along with protection against inflation. There are also improvements to retirement benefits, profit sharing, and more time off.
The UAW says that all three automakers are now offering wage increases above 20%, though the union has called for across the board 40% wage hikes for its members.
Currently, about 33,000 of 145,000 autoworkers are on strike in the U.S. Thousands more have been laid off because the strikes have shutdown production at certain manufacturing plants.
The UAW is also looking for signing bonuses for its members, noting that GM workers in Canada recently received a bonus of $10,000 after ratifying a new three-year labour deal.
Analysts say it is unlikely that the current autoworker strike in the U.S. will be resolved before mid-November.
Ford and GM’s stocks have each fallen more than 8% over the last month as the strike has dragged on. The stock of Stellantis has declined 2%.