By David Shepardson

WASHINGTON (Reuters) – General Motors Co (N:) Chief Executive Mary Barra and President Mark Reuss took part in contract talks with the United Auto Workers union on Tuesday in a sign that a 30-day-long strike of 48,000 U.S. hourly workers could be nearing an end, two people briefed on the talks said on Tuesday.

On Monday, the UAW scheduled a meeting on Thursday morning to update local union representatives on the status of the talks, sources previously said. The sides have not reached a tentative agreement that would end the strike, but progress has been made.

GM declined to comment on the involvement of the No. 1 U.S. automaker’s top two executives in the talks. A UAW spokesman declined to comment.

The UAW strike began on Sept. 16, with the union’s members at GM seeking higher pay, greater job security, a bigger share of profit and protection of healthcare benefits. Other issues include the fate of plants GM has indicated could close, and the use of temporary workers.

After GM angered the UAW negotiators last week by appealing directly to workers and revealing details of the Detroit automaker’s latest offer, the sides have continued talking. The UAW made a counter offer to GM on Friday.

GM shares were up 1.6% in morning trading on Tuesday.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

2019-10-15