Friday, December 1, 2023

The US auto union has extended its strike again

The union of the American auto sector, UAW, announced on Tuesday a new extension of its strike, this time to a large plant of the giant General Motors (GM), saying that the company’s profit vindicates workers to get a “fair share.”

The United Auto Workers union’s decision extend the strike, which has been in place for nearly six weeks, to the GM assembly plant in Arlington, Texas (south), and to 5,000 additional workers, after the group reported results that were higher than expectations for the third quarter of the year.

This comes a day after a strike extension at a large plant of its competitor, Stellantis.

The workers from the “big three” in the sector of the United States—GM, Ford, and Stellantis—demanded salary improvements in accordance with the financial results of the companies.

“Year recording, contract recording”

GM announced Tuesday that it reported net earnings per share of $2.28 in the third quarter, compared with analysts’ consensus forecast of $1.87. Likewise, net profit fell 7.3% to $3.06 billion year-over-year.

Its turnover increased by 5.4% annually to $44.13 billion.

“Another record quarter, another record year. As we’ve been saying for months, record earnings lead to record contracts,” said Shawn Fain, president of the UAW, quoted in a statement after the announcement. the results.

According to the UAW, the strike action has now reached “GM’s most important and lucrative plant.”

The manufacturer reacted by pointing out its “disappointment at the escalation of this senseless and irresponsible strike” that “affects our employees, who sacrifice their quality of life, and that has a negative impact on the collateral of our vendors, our suppliers, and communities.” depending on the activity of the company.

GM defended the most recent offer submitted to the union last week, which the company said increased “about 25% of large and historic offers.”

“It’s time to end this process,” the company added.

At the close of Wall Street, General Motors lost 2.31% to $28.55, a minimum of the year for the group that did not provide forecasts for 2023 after the strike, with an uncertain impact.

On Monday, 6,800 workers at the Stellantis RAM truck factory, “the largest and most profitable” of the group located in the city of Sterling Heights, joined the work suspension.

The total membership of the UAW is 146,000, distributed among the “big three” in Detroit, which for the first time faced a strike simultaneously. Of those total union workers, more than 45,000 remain on strike.

Eight assembly plants and 38 auto parts distribution centers are affected in 22 states of the country.

The parties negotiated four-year collective agreements in negotiations that included pensions and measures to adjust income to the changing cost of living.

World Nation News Desk
World Nation News Desk
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