GM Offers to Match Ford's Proposed 23% Wage Hike in Bid to End Costly UAW Strike

GM offered to match Ford's proposed 23% wage hike for UAW workers in a bid to end the weeks-long strike.

The offer would raise hourly pay about 30% over the deal's term, to $40.39 per hour or $84,000 annually.

Ford's prior industry-leading offer has been described as being at the limit of remaining competitive.

UAW chief Shawn Fain will update members today after a week of "intensive negotiations."

The strike has caused over $7.7 billion in economic losses, with automakers losing $3.45 billion.