Stellantis And UAW Strike Tentative Agreement, Ending Six-week Labor Strike
Portfolio Pulse from Benzinga Neuro
Stellantis (NYSE:STLA) and the United Auto Workers (UAW) union have reached a tentative agreement, ending nearly six weeks of labor strikes. The agreement follows a similar one reached between the UAW and Ford Motor (NYSE:F) earlier in the week. The strikes have cost GM, Ford, and Stellantis billions in lost production. The cost increase for the companies due to the labor deals is not immediately clear, but Deutsche Bank estimates Ford's overall cost increase to be $6.2 billion, $7.2 billion at GM, and $6.4 billion at Stellantis.
October 28, 2023 | 5:31 pm
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POSITIVE IMPACT
Ford has already reached an agreement with UAW earlier in the week. The labor strikes have cost the company billions in lost production.
Ford's agreement with UAW could lead to a recovery in production, which has been affected by the labor strikes. This could have a positive impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Stellantis has reached a tentative agreement with UAW, potentially ending weeks of labor strikes that have cost the company billions in lost production.
The agreement, if approved, will end the labor strikes that have been costly for Stellantis. This could potentially lead to a recovery in production and a positive impact on the company's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
GM is expected to resume negotiations with UAW. The labor strikes have cost the company billions in lost production.
GM is still in the process of negotiating with UAW. The outcome of these negotiations could have a significant impact on the company's stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80