Factory workers at General Motors have overwhelmingly approved a new four-year contract with the company that includes profit-sharing instead of raises for most workers and promises thousands of new jobs.
In exchange for an agreement to create 5,100 union jobs in the U.S., General Motors will hire thousands of less expensive employees and try to replace some longtime workers.
General Motors Co., responding to demand for more fuel-efficient transmissions, plans to add up to 400 workers and invest $260 million at a factory in Toledo, Ohio, a move that is part of a larger investment at plants in eight states.