UAW near deals with Stellantis and General Motors, CNN reports

The United Auto Workers union is nearing tentative labor deals with both General Motors (GM) and Stellantis (STLA), Chris Isidore and Vanessa Yurkevich of CNN report, citing three sources familiar with the negotiations. CNN notes that the deal deals, if reached, with mark the beginning of the end of America’s longest auto strike in 25 years. Stellantis and GM will have to match the 25% in wage increases that Ford has in its tentative agreement with the UAW because it is pattern bargaining, the website adds. GM and Stellantis will also have to match all economic-facing employee items like the wages and 401k contributions that Ford set in their agreement with the union, a source told CNN.