UAW Strike's Ripple Effect: Ford Lays Off 550 Employees

Thousands of United Auto Workers (UAW) members are entering their fifth week of striking against the Detroit Three automakers, demanding better pay and a fair contract. Autoworkers make an average of $28 per hour, with top-tier workers earning around $33 per hour. The strike has resulted in layoffs of approximately 4,800 autoworkers at non-striking factories. UAW is also calling for the elimination of wage tiers, a 40% wage increase, restoration of cost-of-living adjustments, defined benefit pensions for all workers, the right to strike over plant closures, a reduced work week, and increased benefits for current retirees. Meanwhile, CEO compensation at the car companies has increased, with GM's Mary Barra earning $29 million, Ford's Jim Farley earning $21 million, and Stellantis earning $24.8 million in 2022.