Ford Production Workers At Kentucky, Louisville Vote Against Tentative Labor Deal: Report
Portfolio Pulse from Akanksha Bakshi
Production workers at Ford Motor Co's (NYSE:F) assembly plants in Louisville and Kentucky have voted against a tentative labor deal, with 55% opposing it. In contrast, 69% of skilled trades workers supported the agreement. This split vote creates uncertainty for Ford's financial planning, especially after the company withdrew its full-year financial forecast last month due to concerns over the contract's ratification. Overall, 70.7% of Ford workers have voted in favor of the deal, but votes from key facilities like the Dearborn Truck plant in Michigan are still pending. Ford's stock (F) is currently trading down by 0.56% at $9.81.
November 13, 2023 | 4:21 pm
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Ford Motor Co faces uncertainty after production workers at its Kentucky and Louisville plants voted against a tentative labor deal, potentially affecting the company's financial planning and stability.
The rejection of the labor deal by a significant portion of Ford's workforce could lead to disruptions in production and affect investor confidence. The uncertainty surrounding the contract ratification, which has already led Ford to withdraw its full-year financial forecast, suggests a negative short-term impact on the stock price.
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