CAW votes to accept cost-cutting deal with GM

[Bozita]

Source: AP

CAW votes to accept cost-cutting deal with GM
BY ROB GILLIES • ASSOCIATED PRESS WRITER • MAY 25, 2009


TORONTO -- Canadian Auto Workers members voted 86 percent in favor of a cost-cutting deal with General Motors Corp.'s Canadian unit as the automaker bids to qualify for more government loans and assure its future in Canada.

Union leader Ken Lewenza said Monday in a release that the new deal should provide a much-needed sense of security.

Lewenza has said the deal allows GM Canada to meet the cost benchmarks set by the Canadian government, namely making cuts to become competitive with non-unionized Toyota Canada. The deal also stipulates that GM's car assembly and parts plants in Ontario will stay open.

"This has been a grueling restructuring process, and no one has felt that more than our members and retirees," Lewenza said in a statement. "Although we were forced to make a number of important sacrifices, the support we received from our members is proof that they recognize the incredible challenges the industry is facing, but more importantly that they are prepared to stand by each other and stand with their union."

Read more: http://www.freep.com/article/20090525/BUSINESS01/90525044/CAW+votes+to+accept+cost-cutting+deal+with+GM+

[LakeSamish706]

1. I'm sure they don't like it, (and as a former Union worker, I don't either)... But...

that probably was the only way to save their jobs.... The big problem with this is it moves Union Employee's back a significant number of years.....

[Divine Discontent]

2. yes, it really is unfair to the Union employees - this damn downfall is not the car people's fault

but bankers/investors building up false profits for rich bankers who sure as hell not buy GM/Ford 99% of the time! And yet, the unions get hammered but the banks get coddled...


BULLSHIT!

This is one of those things I don't like about how this was all handled. Why not more punishment for the richy fatcat banker/investment CEO's, instead of the little guy with 50k-1mil (depending on age) to his/her name! oh, that's right, the CEO's are rich, that's why.