On Friday, the 25th of October 2019, the United Auto Workers union, accountable for overseeing the ins and outs of 390,000 automobile, aerospace and agricultural workers in Northern America with more than 600,000 retired members at its portfolio, headquartered in Detroit, Michigan, said in a statement that the labour union would turn to United States’ No.
2 automaker, Ford Motor Co. after hourly workers at General Motors would approve a new four-year contract deal. In point of fact, latest announcement from UAW union came forth shortly after 57% of 48,000 hourly workers of General Motors had voted to approve a new four-yearly contract that ended a 40-day long strike in General Motors, the longest in General Motor’s history since 1970s, which had also costed the leading US carmaker $2 billion and disrupted production lines all over the North America including some of its plants in Mexico.
The Detroit-based No. 1 automaker had $24 billion in cash and assets as of June 30th, 2019. Meanwhile, followed by the approval of new contract, GM CEO Mary Barra said in a statement late on Friday (October 25th), “(The new contract) recognizes our employees for the important contributions they make to the overall success of the company, with a strong wage and benefit package and additional investment and job growth in our U.S. operations. ”