General Motors has proposed raising hourly workers' pay by 16 percent, including bonuses, over the next four years, the automaker said Thursday.
The company's first formal contract offer to the UAW includes a $5,500 ratification bonus, $5,000 in inflation-protection bonuses and the addition of Juneteenth as a paid holiday. GM also said it would shorten the length of time for new hires to reach top wages to six years, from eight years today.
"Our offer includes well-deserved wage improvements that far exceed the 2019 agreement and reward you for your hard work," GM said in a letter to workers. "We still have work to do, but we wanted to make this offer to show our good faith efforts to keep the process moving."