07-Nov-2023
Stay up to date: UAW strike 2023
- The United Auto Workers (UAW) strike began on September 15, 2023, when the union was unable to reach a deal with the three automakers - General Motors, Ford, and Stellantis.
- The strike was the first trilateral strike against the three automakers in the union's history. The UAW demanded wage increases of more than 30% over four years, owing to a larger share of record profits.
- The companies shared the concern: concessions required to meet UAW’s demands would hamstring efforts to transition to electric vehicles.
- The strike against Detroit automakers ended on October 30, 2023, after 46 days of targeted labor strikes.
- General Motors and the UAW union reached a tentative contract agreement to end the six-week-old strike against Detroit automakers. The deal follows the pattern set with Ford and replicated by the other two automakers.
- The agreements will last four years and eight months and include 25 percent general pay raises and cost-of-living adjustments.
- The strike resulted in $3.95 billion in economic losses in its first two weeks, of which $325 million was in direct wages lost, $1.12 billion was in losses for Detroit 3 manufacturers, $1.29 billion was in supplier losses, and $1.2 billion was in other losses.
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