UAW President Slams Ford, GM, Stellantis For Delay Tactics In Contract Talks, Raises Political Implications: 'Our Members Are Fired Up'
Portfolio Pulse from Ramakrishnan M
The United Auto Workers (UAW) is in contract negotiations with Ford Motor Co (F) and Stellantis (STLA), with existing labor agreements set to expire in a week. UAW President Shawn Fain criticized the automakers for delaying negotiations and expressed the need for substantial progress. The UAW demands include a 20% immediate wage increase, four 5% annual wage increases, pension plans for all workers, shorter workweeks, higher cost-of-living adjustments, conversion of temporary workers to permanent employees, increased profit sharing, and reinstatement of retiree health-care benefits. General Motors (GM) is expected to provide its proposal soon.
September 07, 2023 | 12:46 pm
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NEGATIVE IMPACT
Ford is in contract negotiations with UAW, which demands substantial wage increases and other benefits.
The ongoing contract negotiations and the UAW's substantial demands could potentially lead to a strike, which would disrupt Ford's operations and negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
General Motors is expected to provide its proposal soon in response to UAW's demands.
The ongoing contract negotiations and the UAW's substantial demands could potentially lead to a strike, which would disrupt GM's operations and negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Stellantis is in contract negotiations with UAW, which demands substantial wage increases and other benefits.
The ongoing contract negotiations and the UAW's substantial demands could potentially lead to a strike, which would disrupt Stellantis's operations and negatively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100