DETROIT (WWJ) -- General Motors has reached a tentative deal with the UAW on a new four-year contract, UAW President Shawn Fain has confirmed.
After tentative agreements were already reached between the union and Ford and Stellantis, this is expected to bring an end to the nearly seven-week strike against the Big Three automakers.
WWJ Auto Beat Reporter Jeff Gilbert says that the GM agreement is expected to be very similar to the deals made for Stellantis and Ford — to include a 25% wage hike, a $5,000 ratification bonus, cost of living adjustments and more.
If the deal is ratified, Fain said, "This will be the most lucrative contract for salaried GM workers in their history. For our hourly workers, it's the same story."
Fain said when including cost of living adjustments, staring wage for GM assembly workers will increase about 70%, while the top wages will increase about 30%.
"Once again, we have won several astonishing victories," said Fain, in a Facebook live video. "For the past several weeks, analysis and pundits were crying that our union was going too far, that we were demanding too much. We didn't listen to them, and we never let up. The result is one of the most stunning contract victories since the sit down strikes in the 1930s. We were relentless in our fight to win a record contract, and that is exactly what we accomplished."
Mayor Mike Duggan said it appears to be a win-win for both the workers and automakers. "I think you've gotten fair raises for the workers who deserved it. I think their standard of living is going to be increased, and everybody should celebrate that," the mayor said. "And I think the leaders of Ford, GM and Stellantis handled themselves very well throughout this process."
There are nearly 150,000 workers covered by the new contracts.
In a statement released Monday afternoon, Michigan Gov. Gretchen Whitmer congratulated both UAW members and GM.
“This agreement supports the hardworking men and women of the UAW and ensures that GM can continue to grow and expand right here in Michigan, where they were established over a century ago," Whitmer said.
“I urge swift ratification of this deal so we can keep competing with other states and nations to lead the future of mobility.
“I applaud the UAW for standing up for working families and taking action to help us build a stronger middle class in Michigan. Let’s keep showing everyone how we can build the next generation of cars and trucks while supporting workers."
This development comes after on Saturday the UAW announced it has reached a tentative agreement with Stellantis, and Ford announced a tentative deal last week.
At the height of strike, which began Sept. 15, 45,000 UAW workers were walking picket lines across the U.S.
While not yet confirmed, Gilbert said it's assumed that GM employees will be headed back to work while work to ratify the deal is ongoing; as that's that Ford and Stellantis workers have done.
But Jeff Schuster, President, Americas Operations and Global Vehicle Forecasts at LMC Automotive, said it's going to take awhile to gear back up for the Detroit Therr.
"To get things back up in running, obviously we get the workers back first. There is going to be then getting and making sure all the parts are there to assemble the vehicles," he said. "You know, that could take several weeks before things are back up to pre-strike levels."
One week ago, the Anderson Economic Group put the cost of the strike at $9.3 billion.