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GM Says Strike Cost $1.1 Billion, but Raises Dividend

November 29, 2023


General Motors says pretax earnings took a $1.1 billion hit this year due to production lost during a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.

The Detroit automaker on Nov. 29 reinstated its full-year earnings forecast that was withdrawn after the United Auto Workers began targeting the factories of Detroit automakers with strikes on Sept. 15. Those strikes continued at GM until Oct. 30.

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