AMC auto workers may 'invest'

American Motors and the United Auto Workers intensified talks over the weekend for a third major auto contract with substantial concessions by workers following the precedents set in union negotiations with Ford and General Motors.

Monitor correspondent Ed Townsend reports that although one negotiator said ''many issues'' remained to be settled, an agreement appeared in the making. Under it, workers would ''invest'' in AMC's product development program by giving up for 22 months part of the wages and benefits they would normally receive. They would regain the money with interest perhaps early as 1984.

Meanwhile GM's 340,000 workers will begin voting this week on a new contract which could save the company $2.5 billion or more. The union's General Motors Council approved the agreement 299-to-25 on March 25, virtually assuring its ratification.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK