Report: Union has started talks with Detroit 3 on profit-sharing changes

Article by Christian A., on December 9, 2010

In anticipation of next year's labor contract negotiations, the United Auto Workers are talking to General Motors Co., Ford Motor Co. and Chrysler Group LLC about changes that would lead to workers getting a larger share of rising profits.

General Holiefield, head of the UAW's Chrysler department, said that it wants the “best possible bang for all of the employees, across the board.” He insists that this would not be a program that would “pay some and not the others.”

Two sources said that the formal talks haven’t started but already, the union leaders and executives from the automakers have raised the topic of changes in profit-sharing terms.

In fact, high-level discussions were started several months ago since they considered this issue to be very significant and as such, would need more time. In an interview, Holiefield said that the companies that have hinted at profit-sharing changes include the Big Three.

He said that UAW President Bob King “has got to get his arms around it.” Last year, the union agreed to mid-contract concessions, including giving up full pay for idled workers, before the bankruptcies of Chrysler LLC and General Motors Corp.

The union said that UAW's four-year labor agreements with GM, Ford, and Chrysler expire on Sept. 14, 2011. Typically, formal talks start several weeks before the expiration of the contracts.

Topics: gm, ford, chrysler

If you liked the article, share on:

Comments

Recommended

The primary suggestion of a 4x4 ute from French company Peugeot was first revealed in 2016. Fifteen months later, the production version is launched. Now, Peugeot is not shying away...
by - June 24, 2017
The new Jaguar E-Pace crossover will soon hold its official launch on July 13 and is expected to arrive at the showrooms by early next year. It couldn’t have come...
by - June 24, 2017
As prices of the original Shelby Cobra have skyrocketed into astronomical proportions, there are firms like Superformance that serve replicas to consumers who demand the same levels of performance at...
by - June 24, 2017
New and improved 2018 Subaru Legacy comes packed with a number of upgraded features from the get go - from the exterior to the interior. And the company has finally...
by - June 23, 2017
In an interview involving Lamborghini CEO Stefano Domenicali and Automotive News, the topic about the Urus was thoroughly discussed. This super SUV is scheduled to make its debut later this...
by - June 23, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries