UAW and GM reach tentative labor deal
After a month-long stalemate between General Motors and the United Auto Workers Union, a tentative deal was reached on Wednesday that would bring 48,000 UAW hourly workers back to work.
The strike was the longest for GM in 50 years and was expected to cost the company over a billion dollars.
The deal is still subject to approval by the union's national GM council during its meeting on Thursday and then must be ratified by the wider membership.
The striking workers had been seeking higher pay, greater job security, a bigger share of profits and protection of healthcare benefits.
Other issues included the fate of GM plants and the use of temporary workers.
GM officials did not have an immediate comment.
Shares of GM were up 2% Wednesday afternoon.
