"The strike has been hard on you, your families, our communities, the Company, our suppliers and dealers", it read, saying the latest offer increased compensation and profit-sharing, promised a path to full-time jobs for temporary workers, leaves health-care benefits intact with no cost increases to workers, and invests in the company's US manufacturing operations.
An ongoing workers' strike at General Motors Co GM.N could cost the automaker about $1.5 billion, brokerage Credit Suisse said on Friday, throwing the USA automaker's cost reduction plans off the track and forcing key suppliers to cut their 2019 outlook.
Over 48,000 UAW members have been on strike since September 16th. Both sides are sparring over wages, job security, investments in US plants and technology training for workers.
The letter, by GM executive Gerald Johnson, included previously undisclosed details of GM's latest offer to the union, including plans to increase its investment in USA facilities to about $9 billion, up from $7 billion, according to the Wall Street Journal.
The brokerage's calculation assumed the strike, now in its 26th day, will last until October 21.
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Since then, it has offered additional concessions, but has not disclosed any details.
"We object to having bargaining placed on hold pending a resolution of these five areas", Sandefur wrote October 10 to UAW Vice President Terry Dittes in a letter obtained by Bloomberg News. "Your members and our employees' lives are being disrupted, and they deserve our commitment to getting any remaining issues resolved as quickly as possible". 'We object to having bargaining placed on hold pending a resolution of these five areas'.
Marick Masters, a professor at Wayne State University who specializes in labor negotiations, said GM's latest move and the UAW's forceful response suggest the strike is likely to go on at least "somewhat longer" even though the negotiations had made some progress in narrowing the differences between the two sides.
"We are committed to the collective bargaining process, and we are committed to our future together", he wrote.
What is worsening matters is the shift of focus of GM to the electric vehicles which requires lesser amount of labor.
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USA president Donald Trump and many lawmakers have also waded in, urging GM to build more vehicles in the United States and shift work from Mexico.
The UAW's membership is largely in the Midwest, in states that could be critical to both sides in the November 2020 presidential election, so the strike has drawn the attention of Republican President Donald Trump, his rivals seeking the Democratic nomination, and USA lawmakers.
The UAW did not immediately respond to FOX Business' request for comment. UAW officials had previously urged Barra to involve herself in the negotiations.
No new formal offers are expected to be presented by UAW officials, according to one source familiar with the talks. GM's production of trucks and sport-utility vehicles in Mexico has drawn anger among union workers.
GM shares have fallen 11% since the strike began.
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