GM and UAW reach first labor deal since bankruptcy
General Motors Co and the United Auto Workers union reached a proposed contract for about 48,500 production workers that would create new U.S. factory jobs and include profit-sharing bonuses.
The proposed contract, which must be ratified by rank-and-file workers, represents the first since U.S. taxpayers bailed out GM and Chrysler Group LLC in 2009.
Details of the tentative deal reached late on Friday were being withheld until it could be reviewed by UAW officials from around the country at a meeting set for Tuesday in Detroit.
The proposed contract would recall about 570 GM workers currently on layoff, revive a now-idled assembly plant in Tennessee and pay signing bonuses of about $5,000 for each worker, a person with knowledge of the terms said.
The UAW chose to complete negotiations with GM first, before reaching a deal with Chrysler and finally turning to Ford Motor Co, people close to the talks said.