Streetbeat News

Labor Issues

BP

Dave Lawler, a top executive at BP in the US, is set to leave the company, according to a Financial Times report. The departure of a key executive could potentially impact the company's operations and strategy in the US.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 7:46 pm

F

GM

STLA

The United Auto Workers (UAW) has rejected Ford's claim that it is holding the contract hostage, stating that there are serious disagreements remaining on core issues.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 6:23 pm

F

GM

STLA

TSLA

The United Auto Workers (UAW) is extending its strike against General Motors (GM) and Ford (F), adding two more assembly plants. This intensifies pressure on the automakers to finalize a new contract agreement. The strike expansion targets Ford’s Chicago Assembly Plant and GM’s Lansing-Delta Assembly Plant, bringing the total number of striking workers to around 25,000. The strike comes at a time of heightened union activity and a shift toward manufacturing electric vehicles in the U.S. Analyst Dan Ives warns that a favorable deal for the union could increase the average EV vehicle price by $3,000-$5,000, impacting units sold and obstructing the future business models of the Detroit Three (GM, Ford, and Stellantis).

Portfolio Pulse from AJ Fabino

September 29, 2023 | 6:20 pm

AMZN

The US Labor Board has accused Amazon (AMZN) of violating a nationwide worker rights settlement. The specifics of the violation were not detailed in the article.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 5:59 pm

F

GM

STLA

A Ford executive has warned that between 300,000 to 500,000 supplier workers could be laid off due to the ongoing UAW strikes. This could potentially disrupt the supply chain and impact the operations of other automakers as well.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 5:29 pm

F

GM

STLA

Ford's CFO has announced that the company is making significant progress on pay and benefits, stating that they are close to a resolution. No specific details were provided.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 5:21 pm

F

GM

STLA

Ford's CEO has assured that none of the company's current employees will lose their jobs due to the new battery plants. This comes as the company is making significant investments in electric vehicle technology.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 5:16 pm

F

GM

STLA

Ford's CEO has warned that the company's supply base is on a knife's edge, indicating a potential supply chain crisis. He emphasized that there is still time to reach an agreement and avert disaster, but not much time given the fragile supply base.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 5:14 pm

F

GM

STLA

Ford has stated that it will not mortgage its future and that the United Auto Workers (UAW) union is seeking billions beyond Ford's current offer. The company also mentioned that UAW's demands would have a 'devastating impact'. Ford is open to a fair deal with UAW on battery plants.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 5:13 pm

F

GM

STLA

Ford's CEO has indicated that the United Auto Workers (UAW) union is delaying a deal due to issues related to battery plants. This could potentially impact the company's transition to electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 5:09 pm