GM, UAW Cut Deal on Labor, Health Care

Tentative pact may save struggling auto giant more than $1B
Posted May 21, 2009 1:44 PM CDT
GM, UAW Cut Deal on Labor, Health Care
Changes to GM's labor agreement are expected to save more than $1 billion for the company.   (AP Photo)

Monitored by the Treasury department, General Motors and the United Auto Workers have reached a tentative deal to modify conditions of their labor contract and retiree health care trust, which could save the flatlining automaker more than $1 billion. Still, Chapter 11 bankruptcy remains likely for GM, and union reps must approve the pact, the Detroit Free Press reports.

Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X