Mexican Media Brands
UPDATE: No Deal Between GM Korea, Union as Bankruptcy Looms
GM Korea failed to reach a tentative agreement with its labor union today to avert a possible bankruptcy filing. But talks reportedly will continue into Monday.
#labor
Share
GM Korea failed to reach a tentative agreement with its labor union today to avert a possible bankruptcy filing.
But the company’s board deferred taking that step until late Monday, sources tell Reuters. A union official says the two sides have agreed to continue negotiations until Monday afternoon.
General Motors Co. has offered to invest $2.8 billion to revive the struggling subsidiary, but only if it wins government aid and workers agree to concessions. An apparent sticking point in the discussions is job security for almost 700 workers at an assembly plant in Gunsan that GM Korea has vowed to shut down in May.
RELATED CONTENT
-
Skilled-Trade Workers Reject GM Contract, Ratification in Limbo
The United Auto Workers union says its production workers ratified a new four-year labor contract with General Motors Co. by a 58% margin.
-
VW Workers Again Reject UAW at Tennessee Plant
Hourly workers at Volkswagen AG’s assembly plant in Chattanooga, Tenn., have again voted against having the United Auto Workers union represent them.
-
GM Unit Stresses Driver Training in Autonomous Cars
General Motors Co.’s Cruise Automation unit says it puts backup drivers and auditors through extensive training before allowing them to participate in real-world autonomous vehicle tests.