DETROIT (WJBK) - UPDATE: Tentative details are beginning to be released.
Wage increases and job security are being touted as the tentative labor agreement's biggest selling points.
One of the details is a $8,000 signing bonus for some GM workers.
The agreement provides a $60,000 bonus for up to 4,000 eligible production employees who retire between Feb. 1, 2016 and May 1, 2016.
Temporary employees who are UAW-GM members will get a $2,000 signing bonus including wage increases and a health care program.
Also, all employees with two years or more of seniority are eligible to transfer.
All that needs to be done now is for leaders to agree and then the workers themselves will get to see what's in the deal and vote.
Leaders from the Union and General Motors met Wednesday afternoon and planned a press conference to announce the tentative deal had been agreed upon. However, as of 5:00 p.m., no deal had been announced.
For woerks like Joanne Austin, she just wants it to be fair and she's ready to see it.
"We work hard. We work hard. They need to be fair with everybody," Austin said. "I'm really anxious to see what it's going to be like. Hopefully it's fair for everybody and hopefully we get paid."
Pay raises are important but there are also reports surfacing of an $8,000 signing bonus. That's twice as much as Fiat Chrysler employees. The reason for the extra cash? GM's high profits. They're a perfect target for the UAW and employee Jake Saylor is hoping for a good incentive to retire. He's been at the Warren Transmission plant for 37 years.
"Larger signing bonus than Chrysler, a raise for couple of the years and then probably lump sum bonuses," Saylor said. "Just wait and see that's what we've been waiting for all day - just to see."
FOX 2 is camped out and waiting for the announcement. We'll bring it to you live at fox2detroit.com/live when it happens.