![]() The company took a one-time charge of $792 million as it picked up more of the $1.9 billion cost of recalling Chevrolet Bolt electric vehicles because they could catch fire due to battery manufacturing defects. The savings came through lower salaried employee expenses due to 5,000 workers taking buyouts, as well as savings in marketing and reductions in administrative costs and vehicle manufacturing complexity. Previously it predicted $8.4 billion to $9.9 billion.Īlso pushing up the guidance was another $1 billion in cost savings that Jacobson said GM had found, on top of $2 billion the company promised earlier for the full year. In 2019, at the height of the unions corruption scandal, the UAW initiated a 40-day strike at GMs more than 30 US factories. With the strike against General Motors of Canada Ltd. For picketing Canadian autoworkers, it was a symbolic gesture. and Fiat Chrysler Automobiles, chose to negotiate first with GM and use any new contract as a template for talks with the. This article was originally published in Maclean’s magazine on October 28, 1996. Beth Baryo, a GM warehouse employee in Michigan, told HuffPost she was a very strong no vote on the contract. ![]() GM raised its full-year guidance for the second straight quarter, saying it will post net income of between $9.3 billion and $10.7 billion. The UAW, which represents about 150,000 workers at GM, Ford Motor Co. Automotive News reported that at two parts plants in New York, 81 of production workers and 62 of skilled trade workers gave the proposal a thumbs-down. employees voted in favor of a new four-year labor agreement. “So while a lot of our competitors are moving prices around a lot, ours have been very consistent” reflecting strong consumer demand, he said. A UAW strike outside the GM plant in Romulus, Michigan, on Oct. “We’ve had an ability and a willingness and a capability to remain disciplined in our pricing and our incentives,” Jacobson said.
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