General Motors raises offer to autoworkers union ahead of UAW bargaining update

General Motors (GM) has increased its offer to the United Auto Workers (UAW) union as contract talks continue. The new offer includes a 23% increase in pay for factory workers, raising it to $40.39 per hour. It also reinstates cost of living raises and offers contributions to 401(k) plans. The UAW had been seeking 36% raises over four years. GM's offer has the potential to end the strikes against GM, Ford, and Stellantis. UAW President Shawn Fain is expected to provide an update on the negotiations on Friday.