DETROIT, Sept. 26 (UPI) -- General Motors Corp. and the United Auto Workers reached a tentative agreement on a new labor contract Wednesday, immediately ending a two-day strike.
The deal, announced by the company and union separately, includes a provision for the union to take over $50 billion in retiree health obligations, UAW President Ron Gettelfinger said.
It also will "absolutely protect (UAW) jobs and keep jobs from being reduced," he said.
Details of the contract weren't disclosed.
GM said the agreement "paves the way for GM to significantly improve its manufacturing competitiveness, providing the basis for maintaining and strengthening its core manufacturing base in the United States."
Gettelfinger said he was "excited" to present the deal to members and hoped to win ratification by the weekend.
"It's an agreement we're proud to recommend to our membership," he told a 4 a.m. EDT news conference at UAW headquarters.
The deal sends 73,000 GM workers back to work after first national strike against GM in 30 years. Workers could return to the picket lines if the deal is voted down.
If union members approve the contract, the UAW will move on to the other U.S. car companies, where it traditionally tries to get similar agreements, Gettelfinger said.
He said didn't know if the UAW would bargain next with Ford Motor Co. or Chrysler LLC.