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| GM reaches 'tentative' deal with striking UAW workers | GM reaches 'tentative' deal with striking UAW workers |
| (about 2 hours later) | |
| The United Auto Workers (UAW) union has announced a tentative deal with General Motors after weeks of negotiations and one of the longest strikes in the company's history. | The United Auto Workers (UAW) union has announced a tentative deal with General Motors after weeks of negotiations and one of the longest strikes in the company's history. |
| The four-year agreement, which would cover almost 50,000 workers, signals a possible end to the walkout, which has halted work at factories and cost the carmaker millions of dollars. | The four-year agreement, which would cover almost 50,000 workers, signals a possible end to the walkout, which has halted work at factories and cost the carmaker millions of dollars. |
| The deal remains subject to approval by UAW leaders and its members. | The deal remains subject to approval by UAW leaders and its members. |
| Details were not immediately available. | Details were not immediately available. |
| Union negotiators said the accord included "major gains" for members. | Union negotiators said the accord included "major gains" for members. |
| "The number one priority of the national negotiation team has been to secure a strong and fair contract that our members deserve," said UAW vice president Terry Dittes, director of the UAW GM department. | |
| "Out of respect for our members, we will refrain from commenting on the details until the UAW GM leaders gather together and receive all details." | "Out of respect for our members, we will refrain from commenting on the details until the UAW GM leaders gather together and receive all details." |
| GM confirmed the tentative agreement, but declined to provide further details. | GM confirmed the tentative agreement, but declined to provide further details. |
| Necessary response | |
| Shares in General Motors rallied about 2% after the announcement. However, the UAW must vote to end the strike before staff return to work. | Shares in General Motors rallied about 2% after the announcement. However, the UAW must vote to end the strike before staff return to work. |
| The strike started last month after the union's previous four-year contract with GM expired. It is the first stoppage since 2007, when there was a two-day walkout. | The strike started last month after the union's previous four-year contract with GM expired. It is the first stoppage since 2007, when there was a two-day walkout. |
| Negotiations have covered wages, healthcare, profit-sharing and job security. | Negotiations have covered wages, healthcare, profit-sharing and job security. |
| The union has also been fighting to stop GM from closing car assembly plants in Ohio and Michigan, which the company has said were necessary in response to a slowdown in auto sales. | The union has also been fighting to stop GM from closing car assembly plants in Ohio and Michigan, which the company has said were necessary in response to a slowdown in auto sales. |
| Recovery | |
| GM reported profits of $8bn last year but the firm has been retooling its operations in anticipation of the slowdown and other market shifts, including the push for self-driving cars. | |
| However, workers say they have been patient as the car giant recovered from the troubles that forced a government-led bailout in 2009. | |
| At the time, workers agreed to pay caps and to allow GM to hire temporary workers, who received lower pay. The union had hoped to remove those concessions this time around. | |
| Negotiations started in July, but the two sides failed to reach a deal by September, leading to the walkout. | |
| It is the longest in decades and its impact has been felt throughout the Michigan economy. | |
| Analysts estimate it is costing GM about $90m a day. | |
| Any deal is expected to set the tone for negotiations with other carmakers, including Ford and Chrysler. |