GM, Ford To Furlough More Workers As UAW Strike Intensifies

RTTNews | 420 일 전
GM, Ford To Furlough More Workers As UAW Strike Intensifies

(RTTNews) - General Motors and Ford Motor reportedly said they are furloughing 500 more workers at four plants hit by the ongoing strike by United Auto Workers or UAW union seeking better contract terms.

GM plans to furlough 130 employees at its Parma, Ohio Metal Center and 34 at its Marion, Indiana Metal Center. Meanwhile, Ford would furlough 330 workers at its Chicago Stamping and Lima, Ohio Engine plants.

In September, GM had idled its Fairfax, Kansas, plant due to a parts shortage resulted from the ongoing strike, causing 2,000 indefinite layoffs. Ford also temporarily laid off about 600 workers at a Michigan auto plant hit by the strike. Further, Stellantis furloughed nearly 370 workers in Ohio and Indiana.

The latest news comes as UAW President Shawn Fain expanded the Stand Up Strike that started on September 15 at key plants of Detroit's Big Three GM, Ford and Chrysler parent Stellantis.

Since last Friday, an additional 7,000 UAW members at GM's Lansing Delta Township Assembly and Ford's Chicago Assembly joined the strike. However, no additional strike action was announced at Stellantis, citing considerable progress in bargaining.

This has brought the total number of Big Three strikers to 25,000 members at 43 facilities in 21 states.

Meanwhile, the UAW confirmed about presenting a new contract offer to GM, but the auto major said significant gaps remain in the counterproposal. It was also reported that the union held a new round of bargaining with Stellantis.

About 12,700 UAW members had started their Stand Up Strike at one each plant of Detroit's Big Three after the expiration of the then four-year collective bargain agreement ended without reaching deals with the workers.

The UAW, which represents about 146,000 workers at the three major automobile manufacturing companies, proposed 40 percent hourly pay increases over the next four years.

UAW later significantly expanded its walkout to various plants of GM, and Stellantis, while it skipped further Ford plants citing then progress in talks.

Last week, President Joe Biden said that the members of the striking UAW union members deserve the 40 percent pay hike that they are demanding.

Meanwhile, Mack Trucks, owned by Swedish commercial vehicle manufacturer Volvo Group, and UAW union recently announced a tentative agreement, in a last minute move avoiding strike.

The new five-year contract covers about 3,900 employees at facilities in Pennsylvania, Maryland and Florida. The agreement now requires to be ratified by UAW members, and the union will schedule ratification meetings.

read more
GM Raises FY24 EPS Forecast As Q3 Beats Market

GM Raises FY24 EPS Forecast As Q3 Beats Market

Automajor General Motors Co. on Tuesday raised its fiscal 2024 adjusted earnings view in line or above market estimates, after reporting higher third-quarter earnings per share and sales, also above the Street. Net earnings for the quarter, meanwhile, edged down. In pre-market activity on the NYSE, GM shares were gaining around 2 percent.
RTTNews | 35 일 전
GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI

GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI

Auto major General Motors has signed a deal with South Korean EV battery maker Samsung SDI to establish a joint venture to build a $3.5 billion plant to supply electric vehicle or EV batteries in the United States. The new battery cell manufacturing plant with an annual production capacity of 27GWh initially, is targeting mass production in 2027.
RTTNews | 90 일 전
Uber In Deal With GM's Cruise To Offer Robotaxis Next Year

Uber In Deal With GM's Cruise To Offer Robotaxis Next Year

Uber Technologies, Inc. and Cruise LLC, the autonomous vehicle company owned by General Motors Co., are joining to offer Cruise autonomous vehicles through the Uber platform. The companies, which are revolutionizing transportation, agreed on a multiyear strategic partnership that will be launched next year. Under the deal, a number of Chevy Bolt-based autonomous vehicles will be offered for...
RTTNews | 95 일 전
GM To Cut More Than 1,000 Software Jobs

GM To Cut More Than 1,000 Software Jobs

Auto major General Motors is laying off more than 1,000 salaried employees in its software and services division across the world, mostly in the U.S., with a view to streamlining its operations, reports said. In the proposed layoffs of software engineers, more than 600 will be at GM's tech campus in Michigan. The job cuts represent about 1.3 percent of GM's global salaried workforce...
RTTNews | 98 일 전
GM Q2 Volume Down, Cuts FY24 Earnings View; Stock Dips

GM Q2 Volume Down, Cuts FY24 Earnings View; Stock Dips

Shares of General Motors Co. were losing more than 6 percent in the early morning trading on the NYSE after the automajor reported Tuesday weak sales volume in its second quarter, mainly in China, and trimmed its fiscal 2024 earnings forecast on a reported basis. However, the company raised its annual adjusted earnings view after reporting higher second-quarter earnings and revenues above market e
RTTNews | 126 일 전
Ford To Invest $3 Bln In Canada For Super Duty Pickups

Ford To Invest $3 Bln In Canada For Super Duty Pickups

Automajor Ford Motor Co. announced plans to invest about $3 billion in Canada in its efforts to boost production of F-Series Super Duty pickups, one of its most popular and profitable vehicles. With the investment, Ford will add a third North American assembly plant at the Oakville Assembly Complex in Ontario, Canada, to meet the increasing Ford Pro customer demand.
RTTNews | 131 일 전