Why Nearly 50,000 GM Auto Workers Just Went On Strike

Why Nearly 50,000 GM Auto Workers Just Went On Strike

For the first time in 12 years, General Motors has seen its workers—nearly 50,000 of them—walk off the job. It’s a work action that could cost the company $50 million per day , according to Dan Levy, an analyst at Credit Suisse. And the company’s stock is taking a hit, falling roughly 3% by midday Monday. Confused about what’s behind all of this and what’s being done to end the strike? We’ve got a few answers for you. Why are GM workers on strike? GM and the United Auto Workers are negotiating a new four-year contract and remain far apart on key issues. The key issues are wages, benefits, and job security. How long will the GM strike last? That’s unclear right now. Contract talks are continuing (and began again at 10 a.m. Monday). Previous strikes have gone the distance, though. A 1970 walkout lasted 67 days. And a strike in Flint, Mich. in 1998 went on for 54 days. Does this strike mean I won’t be able to buy a GM car? If you’re in the market for a Cadillac, Chevrolet, Buick, GMC, or any other GM-branded vehicle, you should be fine for a while. The company saw […]

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