(WXYZ) — These are details emerging from the tentative agreement reached between General Motors and the United Autoworkers Union, according to sources.
The overall package from the company is valued at $9 billion dollars. That's up from the company's original offer of $7 billion.
The deal means 9,000 jobs - retained or new. That's up from the company's original offer of 5,400.
The deal allows the closing of Warren Transmission, Baltimore Transmission and Lordstown, Ohio assembly. The Detroit Hamtramck plant will remain open past January making an all-electric truck. The exact number of jobs has not been made public.
The 4-year deal includes 3% pay raises for two of the years and 4% lump sum payments for the other two.
There will be a ratification bonus for workers, but my sources can't confirm the number. Published reports put the number at $9,000 and $9,500. The original offer from GM was $8,000.
The path for temporary workers to reach full time will be 3 years. They make up 7% of the GM union workforce. They will get a $3,000 signing bonus.
In-Progression workers are 35% of the GM union workforce. They will have a shortened path to reach top tier wages. The current path is 8 years of employment.
Profit-sharing is uncapped. This means if GM has a record year, individual profit-sharing checks will not be limited. The current limit is $12,000.
Health care remains unchanged, workers pay 3% of their insurance. The company had wanted to increase that.