GM passes new offer to UAW, bumps wage increases to 25% compounded

DETROIT — General Motors Co. has passed another offer to the United Auto Workers that would give its hourly employees a 23% general wage increase for a 25% compounded boost over the life of the pact, the company said Friday. GM previously had a 20% not-compounded wage increase on the table. The automaker's previous offer brought workers to top wages after four years. GM said it now has a "faster path to max wages" but didn't specify the new timeline. Under the new offer, a GM hourly employee represented by the UAW would make $40.39 per hour by the end of the agreement, up from $32.32 currently...