40-day GM strike ends with new labor contract

The first U.S. auto strike in 12 years came to an end on Friday after the United Auto Workers and General Motors approved a four-year labor contract, CNBC reports.

Where it stands: UAW secured "annual lump-sum bonuses" or raises plus $11,000 ratification bonuses, per CNBC, and said it would not block GMs' plans to close four facilities across the U.S. GM committed to adding thousands of new jobs and said it would decrease the number of years required for workers to earn more than $32 an hour. Some of the union’s 48,000 members employed at GM are expected to return to work as soon as Saturday.