Canadian autoworkers have voted to accept a new three-year collective agreement with U.S. automaker General Motors (GM).
Members of Unifor, the union that represents 4,300 Canadian autoworkers at three General Motors manufacturing plants in Ontario, voted 80% in favor of the deal, the union said.
Acceptance of the new contract with GM comes after Unifor members previously voted in favour of a new deal with the Ford Motor Co. (F).
Chrysler parent company Stellantis (STLA) is now the only major U.S. automaker without a new labour contract in Canada.
Unifor has not yet engaged in collective bargaining with Stellantis, which has the largest Canadian manufacturing presence among the top American vehicle manufacturers.
The agreement with GM came after a brief strike last week at the company’s Ontario facilities that lasted about 14 hours.
The new contract with the Canadian autoworkers includes pay raises of nearly 20% for production workers and 25% for skilled trades. GM also agreed to restore cost-of-living pay raises starting in December 2024.
Additionally, workers who currently get defined-contribution retirement plans (RRSPs) will be moved over to a more traditional defined-benefits pension plan on January 1, 2025.
General Motors, Ford and Stellantis continue to grapple with ongoing targeted strikes at their facilities in the U.S. by the United Auto Workers (UAW) union, which is demanding across the board pay increases of 40% for its members.
GM’s stock has declined 12% over the last year and currently trades at $29.66 U.S. per share.
