Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

Business

UAW leadership holds off on new strikes as Big Three talks continue

by October 11, 2023
October 11, 2023
UAW leadership holds off on new strikes as Big Three talks continue

The United Auto Workers strike against the Big Three U.S. automakers continues, but union President Shawn Fain said Friday that the labor stoppage isn’t expanding as the walkout closes out its third week.

In a 2 p.m. Facebook Live event, Fain said General Motors agreed in writing that electric battery manufacturing will be covered in the next contract between GM and the union. He described that as a major win that will change the auto industry.

He said the threat of a strike at another major GM plant convinced the company to change its stance.

‘We were about to shut down GM’s largest moneymaker in Arlington, Texas,’ Fain said. Full size-SUVs for the Chevrolet, GMC, and Cadillac brands are made there.

Electric vehicle manufacturing plants, and the people who work there, have been an important point in the strike. The employees at those plants aren’t members of the UAW, and they make less money than union members.

Ford, GM, and Stellantis, the former Fiat Chrysler, all partner with South Korean companies to make those batteries.

“We’ve been told the EV future must be a race to the bottom, and now we’ve called their bluff,’ Fain said. ‘The plan was to draw down engine and transmission plants, and permanently replace them with low-wage battery jobs.’

General Motors said it is continuing to negotiate. It did not confirm the concessions Fain described.

About 25,000 auto workers have gone on strike since the UAW’s contract with Ford, Stellantis, and General Motors expired at midnight ET on September 15. It was the first time the union simultaneously went on strike against all three companies.

Since then, the UAW had announced additional strike locations every Friday, with more workers walking off the job at noon ET each time. That changed this week.

The UAW’s other demands

The union wants to include 40% annual pay raises over four years; a 32-hour workweek, down from the current 40; an end to wage tiers; better pensions for retirees; cost of living adjustments; and improved healthcare. They cite record profits for the car companies in recent years and the benefits union members gave up after the 2007-08 Great Recession nearly took down the Big Three.

The automakers have offered record contracts with pay increases of around 20% as well as bonuses and other improved benefits, but that hasn’t been enough to keep the strike from stretching on.

While workers from all three companies are striking, the UAW has spared the companies additional strikes at different times to reward them for making progress in talks. A week ago, GM and Ford were targeted for strike expansions while Stellantis, which makes Dodge and Chrysler and Jeep vehicles, was not.

It’s a strategy intended to keep the companies off-guard and snarl their production and supply lines while taking fewer workers off the job. Soon after it started, the automakers began laying off workers in various locations, saying there was no work for them because of strikes elsewhere.

GM has laid off more than 2,100 employees since the strike began, with Ford adding more than 600, and Stellantis has furloughed around 370 people.

The Washington Post recently reported that auto suppliers connected to the Detroit Big Three have laid off more than 3,000 of their workers as well.

This post appeared first on NBC NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Star witness says FTX head Sam Bankman-Fried told her to commit crimes and mislead lenders
next post
House Republicans introduce dueling proposals as GOP scrambles to select new speaker

Related Posts

Autoworkers hesitate on new contracts despite ‘record’ pay...

November 11, 2023

Skydance bid for Paramount hinges on Shari Redstone...

May 4, 2024

Holiday shopping season might be off to a...

November 17, 2023

Buffett denies rumors after Trump shares wild claim...

April 6, 2025

Honda recalls thousands of hybrids over electrical issue...

December 22, 2023

Inflation expected to worsen in August because of...

September 13, 2023

Nearly all of the homes listed for sale...

December 22, 2023

UAW strike would show Biden, other leaders it’s...

September 7, 2023

Ticketmaster’s hidden fees remain common long after it...

October 26, 2023

Vail stock struggles as strike leads to long...

January 7, 2025

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Top 10 Countries for Natural Gas Production (Updated 2024)

      April 6, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Top 10 Uranium-producing Countries (Updated 2024)

      April 18, 2024
    • 4

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025
    • 5

      Top 9 Nickel-producing Countries (Updated 2024)

      April 23, 2024
    • 6

      Australian abolitionist, Grace Forrest, receives coveted ‘Freedom from Fear’ award

      April 13, 2024
    • 7

      LME Sanctions on Russian Metal Push Copper, Nickel and Aluminum Prices Higher

      April 17, 2024

    Categories

    • Business (1,028)
    • Investing (2,046)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,347)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thriftybanker.com | All Rights Reserved