GM's Barra Joins Talks In Effort To End UAW Strike

General Motors Chief Executive Mary Barra was back at the bargaining table with union leaders on Tuesday, a labor source said, amid signs of potential progress in talks to end a strike.

Barra's appearance came with news that United Auto Workers leaders had called local union representatives to Detroit for a meeting on Thursday. Such gatherings have in the past served as occasions to vote on labor agreements.

Nearly 50,000 hourly workers have been on strike since September 16 in a walkout that has halted production at 31 factories and led to thousands of layoffs at auto supply companies.

Barra attended the meetings Tuesday, "but there is no tentative agreement yet," said UAW spokesman Brian Rothenberg.

GM declined to comment.

Points of contention in the bargaining have included job security, health benefits and a quicker transition to permanent worker status for temporary workers who are paid less.

The strike's continuation into week five has meant that both GM and the UAW are now at "the point of pain," said a note Tuesday from Bank of America Merrill Lynch.

The strike has slashed GM's operating profits by $2 billion and lowered take-home pay for workers by up to $4,000, the bank said, which described GM's position as "between a rock and a hard place."

"A prolonged strike could burn significant cash and bring GM to its knees but investors likely will also react negatively if management is perceived to have caved into labor's demands and GM's long-term competitiveness is threatened," the note said.

Shares of GM rose 2.1 percent to $36.26.