The 40-day strike lasted from Sept. 16 until Friday, when a majority of the union's 48,000 members approved a new four-year deal. It was the longest national walkout against the automaker since a 67-day strike in 1970.
The 40-day work stoppage lasted from Sept. 16 until Friday, when a majority of the union's 48,000 members approved a new four-year deal.
Wall Street analysts estimated the strike cost GM more than $2 billion in lost vehicle production during the third and fourth quarters.Michael Wayland | CNBCcost the automaker about $3.8 billion for the year, significantly higher than previously estimated by Wall Street. After accounting for interest and taxes, the strike shaved off about $2.9 billion in net income, from the automaker's 2019 earnings, or $2 a share, the company said Tuesday in releasing its third-quarter earnings before the markets opened. That includes $700 million in costs, or 52 cents per share, for the third-quarter alone.It was the longest national walkout against the automaker since a 67-day strike in 1970.during the third and fourth quarters.
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