Main issues in UAW-GM labor talks narrow to wages, pensions: source

DETROIT (Reuters) – Because the U.S. strike by the United Auto Staff union towards Normal Motors Co (GM.N) nears three weeks, the principle remaining points within the negotiations have narrowed to wages and pensions, an individual acquainted with the talks stated on Saturday.

The GM strike started on Sept. 16 with the 48,000 UAW members looking for greater pay, higher job safety, an even bigger share of the main U.S. automaker’s revenue and safety of healthcare advantages. The edges have been assembly every day and talks continued on Saturday, and representatives for each side declined to debate particulars.

One of many main remaining points consists of the UAW’s need to scale back the time it takes newer hires to earn the highest wage scale of about $31 an hour from the present eight-year interval, stated the supply, who requested to not be recognized as a result of the talks are ongoing.

One other difficulty is a need by the union for the next pension payout, that means an enhanced components for these members employed earlier than 2007 who can be coated by a pension, and the next contribution to the 401(okay) plans of members employed after 2007, the supply stated.

The UAW stated late Friday it had made “good progress” within the negotiations on such points as well being care and the standing of non permanent employees.

The deal with fewer points signifies the talks might be nearing a decision because the dispute is taking a toll on each the automaker and placing UAW employees, whose particular person compensation of $250 every week from the union strike fund is a fraction of their regular pay.

Analysts estimate the strike has price GM over $1 billion, whereas LMC Automotive estimated on Thursday GM has misplaced manufacturing of 118,000 autos by means of Oct. 2.