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GM, new union strike deal for raises at central Mexico plant

By Daina Beth Solomon MEXICO CITY (Reuters) -General Motors and a new independent union at the U.S. automaker's biggest Mexico plant have reached a deal for a new workers'...
GM, new union strike deal for raises at central Mexico plant © Reuters. FILE PHOTO: A view of the main entrance of the General Motors' pickup truck plant as workers vote to elect a new union under a labor reform that underpins a new trade deal with Canada and the United States, in Silao, Mexico February 1, 2022. REUTERS/Sergi

By Daina Beth Solomon

MEXICO CITY (Reuters) -General Motors and a new independent union at the U.S. automaker's biggest Mexico plant have reached a deal for a new workers' contract that includes raises and benefits above inflation, the union said on Wednesday.

The negotiations at GM's plant in the central city of Silao in Guanajuato state marked a high-profile test case for a new trade deal's goal of reducing the vast wage gap between U.S. workers and their Mexican counterparts.

The agreement comes after talks began several weeks ago, and forestalls a May 31 deadline for workers to strike.

"The new collective contract improves labor conditions on all levels," the union, SINTTIA, said in a statement. "The agreed deal includes an economic package of salary increases and economic benefits that is above inflation."

SINTTIA did not provide further details about the above-inflation wage deal. Mexican headline inflation rose 7.68% in the year through April to its highest levels since January 2001.

GM did not immediately reply to a request for comment.

SINTTIA became the first independent union in the GM Silao plant's 25-year history in one of the first union elections under the trade deal, the United States-Mexico-Canada Agreement (USMCA).

The provisions in the 2020 deal that replaced the North American Free Trade Agreement (NAFTA) were meant to help Mexican workers elect unions that will best fight for their interests, breaking the grip of business-friendly groups that operated behind workers' backs for years as cheap labor lured companies to Mexico.

Reuters reported last month that SINTTIA initially proposed a 19.2% raise, citing rising inflation in Mexico, which GM countered with an offer of 3.5%.

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28-05-2022 00:58:09 (UTC+7)

EUR/USD

1.0717

-0.0007 (-0.07%)

Summary

Sell

Moving Avg:

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Sell (6)

Indicators:

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EUR/USD

1.0717

-0.0007 (-0.07%)

Summary

Sell

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Buy (6)

Sell (6)

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Buy (1)

Sell (7)

GBP/USD

1.2611

+0.0017 (+0.14%)

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USD/JPY

127.10

-0.04 (-0.04%)

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AUD/USD

0.7147

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136.22

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-0.0018 (-0.17%)

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Euro Stoxx 50

3,808.86

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S&P 500

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14,462.19

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7,585.46

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20,697.36

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US Small Cap 2000

1,878.40

+35.55 (+1.93%)

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IBEX 35

8,933.60

+44.80 (+0.50%)

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51.110

+0.320 (+0.63%)

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Bayer AG NA

66.58

+0.68 (+1.03%)

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Allianz SE VNA O.N.

200.20

+1.40 (+0.70%)

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Adidas AG

179.96

+3.20 (+1.81%)

Summary

↑ Buy

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Deutsche Lufthansa AG

6.881

+0.031 (+0.45%)

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Siemens AG Class N

121.86

+3.34 (+2.82%)

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Deutsche Bank AG

10.392

-0.022 (-0.21%)

Summary

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 EUR/USD1.0717Sell
 GBP/USD1.2611↑ Buy
 USD/JPY127.10↑ Buy
 AUD/USD0.7147↑ Buy
 USD/CAD1.2742↑ Sell
 EUR/JPY136.22Neutral
 EUR/CHF1.0271↑ Buy
 Gold1,851.39↑ Buy
 Silver22.090↑ Buy
 Copper4.3133↑ Buy
 Crude Oil WTI114.77↑ Buy
 Brent Oil115.20↑ Buy
 Natural Gas8.603Sell
 US Coffee C228.65↑ Sell
 Euro Stoxx 503,808.86↑ Buy
 S&P 5004,127.07↑ Buy
 DAX14,462.19↑ Buy
 FTSE 1007,585.46Sell
 Hang Seng20,697.36↑ Buy
 Small Cap 20001,878.40↑ Buy
 IBEX 358,933.60↑ Buy
 BASF51.110Neutral
 Bayer66.58↑ Buy
 Allianz200.20↑ Buy
 Adidas179.96↑ Buy
 Lufthansa6.881↑ Buy
 Siemens AG121.86Buy
 Deutsche Bank AG10.392↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,830/ 6,940
(0/ 0) # 1,716
SJC HCM6,855/ 6,955
(0/ 0) # 1,731
SJC Hanoi6,855/ 6,957
(0/ 0) # 1,733
SJC Danang6,855/ 6,957
(0/ 0) # 1,733
SJC Nhatrang6,855/ 6,957
(0/ 0) # 1,733
SJC Cantho6,855/ 6,957
(0/ 0) # 1,733
Cập nhật 28-05-2022 00:58:11
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RON 95-V31.25031.870
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$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.030,0023.340,00
EUR24.263,1125.622,23
GBP28.523,9629.740,84
JPY177,60188,03
KRW15,9119,38
Cập nhật lúc 18:54:46 27/05/2022
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