General Motors
made a sixth offer in an attempt to settle the United Auto Workers strike at its plants ahead of a key day when union President Shawn Fain will provide an update on negotiations with the Big Three auto makers.
in mid-September, Fain instructed union members to stop work at one plant operated by each company and he expanded the action in later weeks. A fresh update from Fain will come Friday. In a bid to head off an escalation of the walkouts, GM said in a statement it had made another counteroffer.
“We can confirm that we provided a counter offer to the UAW’s most recent proposal—our sixth since the start of negotiations,” GM said late Thursday. “We believe we have a compelling offer that would reward our team members and allow GM to succeed and thrive into the future. We continue to stand ready and willing to negotiate in good faith 24/7 to reach an agreement.”
GM
(ticker: GM) fell 0.2% to $30.24 in premarket trading. It slumped 2.4% on Thursday, closing at $30.31. That’s the lowest since the $29.59 it recorded on Sept. 30, 2020, according to FactSet.
Ford
(F) was up 0.1% to $11.91 and Jeep owner
Stellantis
(STLA) rose 0.4% to $18.97.
Earlier this week, Reuters reported that GM said there remains significant gaps in its talks with the union but there has been movement in a few key areas.
Write to Rupert Steiner at [email protected]
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