Unionized employees at GM plants across the country walked off the job today after their 11am strike deadline passed without an agreement. The UAW said it had done “everything possible to negotiate a new contract,” including bargaining for 10 days after the initial deadline. GM stock rose this morning, the Journal reports, as investors applauded the company’s tough stance.
This is UAW’s first walkout over company-wide contract talks in over 20 years, and GM’s first work stoppage since 1998. The sides had seemed close on the creation of a union-run trust for retiree health care, but talks hit a snag last night over details of trust size, wages, job security, and work rules, reports the Detroit Free Press.