Word: union
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...However, another contract the union signed with Mitsubishi back in September could become the template for the union's next contract with Detroit automakers. The UAW-Mitsubishi contract, which covers roughly 1,100 workers at the Japanese automaker's plant in Normal, Ill., called for workers to take a 14% pay cut, rolling back wages to $24 per hour from $28 per hour...
...President Ron Gettelfinger said Wednesday afternoon that the union was taking two immediate steps to help bolster the three struggling automakers, which he said are suffering a triple calamity of collapsing sales, tumbling consumer confidence and the frozen credit markets. (See pictures of the recession...
...concessions would permit the automakers to delay payments to the retiree healthcare trust [VEBA] due during 2009 and cancel the controversial jobs bank immediately. The union also plans to re-open contract discussions with all three automakers and will consider what Gettelfinger describes as "modifications" to the current contract...
...with the UAW, GM management issued a statement: "We are pleased to see these changes and the willingness of the UAW to help improve our competitiveness. The UAW has shown they are willing to work with us on tough issues. We look forward to continuing to work with our union partners to transform our business as we are in this together." (See the 50 worst cars of all time...
...less than 1% of the U.S. market," he said. Gettelfinger, however, made it plain that the situation was dire. "Even if all of our members were willing to work for nothing, it wouldn't help the automakers out of the situation they are in," Gettelfinger told reporters after a union meeting in Detroit, also noting that the union already made major concessions in 2005 and 2007. But the automakers' managements clearly want more. "They told it's not about concessions, it's about the survival of the companies," said Bill Parker, president of UAW Local 1700, which represents workers...