UAW workers at GM's Flint plant narrowly vote against new labor deal
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UAW workers at GM's Flint plant narrowly vote against new labor deal
(Reuters) - United Auto Workers (UAW) union members at General Motors' (GM.N) Flint assembly plant in Michigan have narrowly voted against a proposed contract with the U.S. automaker, the local chapter said.
The vote signals that approval of the deal, which is set to raise costs significantly for GM, is not guaranteed.
In a Facebook post on Thursday, the UAW Local 598 said 51.8% of votes cast were against the proposed deal.
GM said it would not comment during the ratification process.
Shares of the company, which has 4,746 workers at the Flint plant, fell about 1.2% in morning trade to hit a more than three-year low of $26.30.
Workers at the company's other plants are expected to vote on the agreement in the coming weeks.
Of the total votes cast at the company's various facilities so far, about 58% of workers voted in favor of the deal, according to a UAW vote tracker.
Workers are yet to vote at some of GM's major plants including the Arlington assembly plant in Texas and Fort Wayne truck plant in Indiana, which produce some of the company's most profitable vehicles.
Union workers are voting on contracts from each of Chrysler-owner Stellantis (STLAM.MI), General Motors and Ford Motor (F.N), after the first coordinated strike against Detroit's Big Three automakers.
