Roughly 5,000 United Auto Workers members walked off the job at General Motors' most profitable plant in North America on Tuesday shortly after the company posted earnings that surpassed Wall Street's expectations, reporting nearly $3.1 billion in third-quarter profits.
'Despite such strong earnings, GM's latest contract offer 'fails to reward UAW members for the profits they've generated,' the UAW said in a statement Tuesday.'GM's offer lags behind Ford, with the company proposing a two-tier wage progression, the weakest 401 contribution offer on the table, a deficient COLA, and other shortcomings,' the union said.
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