General Motors beats for Q3 but withdraws 2023 guidance amid ongoing strikes
) gained 1% in early trading Tuesday after topping third-quarter results but the auto giant withdrew 2023 guidance as UAW strike costs continued to mount.
"It’s been clear coming out of COVID that wages and benefits across the U.S. economy would need to increase because of inflation and other factors, CEO Mary Barra commented on the ongoing strike."The current offer is the most significant that GM has ever proposed to the UAW, and the majority of our workforce will make $40.39 per hour, or roughly $84,000 a year by the end of this agreement’s term.
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