Ford Says On Track To Reach Full Production Schedules In Coming Days At Assembly Plants In Michigan, Kentucky, Illinois That Were Affected During Strike; "The Reality Is That This Labor Agreement Added Significant Cost"
Portfolio Pulse from Benzinga Newsdesk
Ford Motor Company has announced that it is on track to resume full production schedules at its assembly plants in Michigan, Kentucky, and Illinois, which were impacted by a recent strike. However, the company acknowledged that the new labor agreement resulting from the strike has added significant costs.
November 20, 2023 | 2:47 pm
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Ford is poised to return to full production after a strike, but faces increased costs from a new labor agreement.
The return to full production is positive news for Ford as it suggests a resolution to the strike and a resumption of normal operations. However, the admission of significant cost increases due to the labor agreement is likely to concern investors about the impact on Ford's profitability and margins. This could lead to a negative short-term impact on Ford's stock price as the market digests the implications of the increased costs.
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IMPORTANCE 75
RELEVANCE 100