(CNBC) -- DETROIT – The United Auto Workers union plans to strike against General Motors following the two sides not reaching a tentative deal before a Saturday night deadline.
The strike, depending on its length, could easily cost GM hundreds of millions of dollars. The last time the union declared a strike at GM was in 2007. The two-day work stoppage was estimated to have cost the Detroit automaker more than $300 million a day.
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The called strike comes despite GM saying it presented a “strong offer” to the union that included the addition or retention of thousands of jobs and more than $7 billion in new investments over the next four years.