CASPER
New member
GM reaches deal with Canadian Auto Workers
Sun Mar 8, 10:21 AM
12
OTTAWA (AFP) - The Canadian Auto Workers union on Sunday announced a tentative deal with General Motors on Sunday, as part of the company's North American restructuring.
Details of the agreement were to be released at a press conference later in the day.
GM is currently funding its North American operations with 13.4 billion dollars in emergency loans from the US government.
The beleaguered auto giant said last month it would need an additional 22.6 billion in government aid if it is to survive a collapse of global auto sales amid a deepening recession.
The company is also asking for up to 7.5 billion Canadian dollars (6.0 billion US) in aid from Canada's government.
Last week, the union entered into talks with the auto giant on a worker "sacrifice agreement" to try to find labor savings in its Canadian operations, at Ottawa's insistence.
The tentative pact must still be ratified by GM's approximately 10,000 workers in Ontario province, the union said in a statement.
Sun Mar 8, 10:21 AM
12
OTTAWA (AFP) - The Canadian Auto Workers union on Sunday announced a tentative deal with General Motors on Sunday, as part of the company's North American restructuring.
Details of the agreement were to be released at a press conference later in the day.
GM is currently funding its North American operations with 13.4 billion dollars in emergency loans from the US government.
The beleaguered auto giant said last month it would need an additional 22.6 billion in government aid if it is to survive a collapse of global auto sales amid a deepening recession.
The company is also asking for up to 7.5 billion Canadian dollars (6.0 billion US) in aid from Canada's government.
Last week, the union entered into talks with the auto giant on a worker "sacrifice agreement" to try to find labor savings in its Canadian operations, at Ottawa's insistence.
The tentative pact must still be ratified by GM's approximately 10,000 workers in Ontario province, the union said in a statement.
