UAW Strike Begins At Big Three As Deadline Ends

RTTNews | 413 days ago
UAW Strike Begins At Big Three As Deadline Ends

(RTTNews) - United Auto Workers or UAW members have started their Stand Up Strike at three key plants of Detroit's Big Three as the deadline passed for automakers to reach deals with the workers.

Just after midnight Friday, the union said in a post on X, "The UAW Stand Up Strike begins at all three of the Big Three," that is, Ford, General Motors, and Chrysler.

The Strike started as talks between the union and companies' management failed to agree on contract terms and pay before the expiration of the four-year collective bargain agreement on Thursday midnight.

One each plant of Ford, General Motors, and Stellantis, the parent company of Chrysler, have been affected with the strike that started after the Thursday night deadline. These selected plants reportedly produce highly profitable vehicles that continue to be in high demand.

Meanwhile, Ford said on Thursday said the UAW presented its first substantive counterproposal a few hours from the expiration of the previous agreement that showed little movement from the union's initial demands submitted on August 3.

Ford said, "If implemented, the proposal would more than double Ford's current UAW-related labor costs, which are already significantly higher than the labor costs of Tesla, Toyota and other foreign-owned automakers in the United States that utilize non-union-represented labor."

Meanwhile, The White House reportedly said President Joe Biden got involved in the matter by late Thursday, and talked with UAW President Shawn Fain and the leaders of the automakers.

UAW said its about 12,700 workers are on walkout at GM Wentzville Assembly, Local 2250 in Region 4, Stellantis Toledo Assembly Complex, Local 12 in Region 2B, as well as Ford Michigan Assembly Plant - Final Assembly and Paint, Local 900 in Region 1A. Among the total striking employees, 3,300 are at Ford, 3,600 at GM and 5,800 at Stellantis.

On a combined basis, the union represents about 146,000 workers across the at Big Three.

In a statement, UAW said, "This fight is our generation's defining moment. Not just at the Big Three, but across the entire working class."

Fain said the new strategy of "stand-up" strike is for getting their share of economic and social justice, and will be out until they get it no matter how long it takes.

The union's major demands to the automakers include an immediate 20 percent wage increase followed by four annual 5 percent wage hikes, defined-benefit pensions, a reduced 32-hour workweek, and cost-of-living adjustments.

Ford last week announced that it has raised the pay of 8,000 US hourly workers represented by the UAW union just a week before its union contract expires.

In a last minute attempt to avoid the strike, GM reportedly had offered the UAW members a sweetened deal on Thursday that includes 20% wage increases, more vacation days and better benefits for retirees, among others. GM CEO Mary Barra called their proposal as compelling and unprecedented that reflects the significance of then critical moment.

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 | 10 days ago
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 | 65 days ago
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 | 70 days ago
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 | 73 days ago
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 | 101 days ago
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 | 106 days ago