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

Women’s college basketball final expected to set new...

April 6, 2024

Housing market may be thawing as rates dip...

December 13, 2023

More Green Dot Bank customers say they can’t...

August 27, 2023

Autumn arrives earlier than ever for Starbucks and...

September 1, 2023

Federal student loans this fall will have the highest interest...

May 15, 2024

Two plead guilty to insider trading related to...

April 4, 2024

Family Dollar to close almost 1,000 stores

March 14, 2024

More than 300,000 air fryers sold at Walmart,...

December 21, 2023

As tourists seek refunds for upcoming Maui trips,...

August 17, 2023

Forget a new bathroom, just fix the faucet:...

February 29, 2024

    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

      Waymo offers teen accounts for driverless rides

      July 9, 2025
    • 2

      Strong Leach Recoveries and Low Impurities

      July 9, 2025
    • 3

      Boeing delivers most airplanes since late 2023 after ramping up 737 Max output

      July 9, 2025
    • 4

      Silver Stocks: 3 Biggest US Producers in 2024

      May 28, 2024
    • 5

      Tesla asks shareholders to vote again on Musk’s $56 billion payout

      April 18, 2024
    • 6

      North Korea says it launched new ‘tactical nuclear attack’ submarine. South Korea doubts it works

      September 11, 2023
    • 7

      Share Purchase Plan Offer Booklet

      July 9, 2025

    Categories

    • Business (1,068)
    • Investing (2,104)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,415)
    • 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