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General Motors Company
Symbol GMM
Shares Issued 1,545,364,004
Close 2016-10-26 U$ 31.56
Market Cap U$ 48,771,687,966
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Globe says GM rival Ford at impasse with Unifor

2016-10-27 06:21 ET - In the News

The Globe and Mail reports in its Thursday, Oct. 27, edition that a new labour agreement with Unifor that has already been approved by General Motors of Canada and Fiat Chrysler Automobiles is proving too rich for Ford Motor. The Globe's Greg Keenan writes that an unnamed source says the contract, which provides $12,000 in bonuses, wage increases for longer-term employees and even-higher wage increases for recently hired workers, is a high-cost deal. The source says: "This pattern [agreement] as it stands now puts Ford at a disadvantage to its competitors. It's a high-cost agreement." While the pattern deal established in negotiations between Unifor and GM and Fiat may be too costly for Ford, it may not be rich enough for Unifor's biggest Ford local, setting up a potential impasse as a strike deadline of Oct. 31 approaches. The source, however, says to negotiate wage increases beyond what GM and Fiat have already agreed to and which the 5,000-member-strong Unifor local in Oakville, Ont., appears to be demanding would make Ford even less competitive than its Detroit Three rivals in Canada and put Ford's Canadian manufacturing operations at risk. In automotive pattern bargaining, the template established at one company is then applied to the other two companies.

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