"GM Cuts Forecast, Sees Strike’s Full-Year Cost at $2.9 Billion", 29 October 2019

General Motors Co. is preparing to pay the bill for a nearly six-week strike at its U.S. plants...slashing its earnings forecast for the year by...about $2.9 billion.The walkout hit GM’s profit by $1 billion in the third quarter alone, the company said in a statement...

 ...the...company may be able to make up for some lost vehicle output as it ramps up production now that it has settled a new four-year labor deal. And third-quarter performance wasn’t as bad as some analysts predicted...

 ...For GM, the strike’s impact is two-fold. It not only hit profits for this year but also adds $100 million a year to its labor costs going forward, according to an estimate from Credit Suisse...

...As part of the new labor deal, GM will give workers a 3% raise, $11,000 ratification bonuses for tenured workers and reduce the amount of time entry-level workers need to get to top pay. The deal also sets some limits on the numbers of temporary workers who can be hired.

 If not for the strike, GM would have turned out a record quarter...