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Big 3 Automakers

All articles tagged with #big 3 automakers

business2 years ago•4 min saved

UAW Strikes Conclude with Historic Agreements, Ending Auto Industry Standoff

The United Auto Workers (UAW) has ended its historic six-week strike after reaching tentative labor agreements with all three major automakers in Detroit. The UAW reached a deal with General Motors (GM) that includes a 25% wage increase over four-and-a-half years, cost of living adjustments, and the removal of employees from the two-tier wage system. The agreement also brings GM's manufacturing subsidiary and battery joint venture under the UAW national contract. The GM deal follows similar agreements reached with Ford and Stellantis. President Biden praised the agreements and the power of unions, while experts noted the UAW's successful strategy of negotiating and striking simultaneously with all three automakers. The strike caused significant losses for the Big 3 and led to layoffs at auto supplier companies.

via CBS News|

#big-3-automakers #business #general-motors

labor-and-employment2 years ago•5 min saved

"UAW Fights to Restore Enviable Autoworkers' Retirement Benefits"

Autoworkers, currently on strike, are demanding the return of lifelong health care coverage and guaranteed monthly income until death, benefits they enjoyed in the past. Retirement security is a key issue in ongoing negotiations between the United Auto Workers union and the Big 3 automakers. The physical strain of factory jobs makes health care benefits crucial for autoworkers, who often require knee or hip replacements. The union argues that the automakers, which have seen record profits, should share their success with workers. While the car companies have offered improvements to retirement benefits, a return to the high costs of lifelong retirement packages seems unlikely due to the financial strain it would place on the companies.

via NPR|

#autoworkers #big-3-automakers #labor-and-employment

business2 years ago•4 min saved

"UAW Strike: CEO Pay, Chaos, and Potential Benefits for Workers"

The ongoing strike by autoworkers against the Big 3 U.S. automakers has brought attention to the widening gap between CEO and worker pay. The United Auto Workers (UAW) is demanding a 46% raise for workers over the next four years, which slightly exceeds the combined 40% increase in CEO compensation over the same period. The average pay for autoworkers at these companies has only risen 6% in the past four years. The CEOs of General Motors, Ford, and Stellantis have seen varying pay increases, with the highest being 34%. The strike continues as the two sides remain far apart on pay increase negotiations.

via ABC News|

#big-3-automakers #business #ceo-pay

laborunion-news2 years ago•1 min saved

UAW Workers Rally at Labor Day Parade, Strike Imminent

Union workers, including UAW members, marched at the Labor Day Parade in Detroit, just nine days away from a potential strike against the Big 3 automakers. President Joe Biden expressed confidence that a strike won't happen, but UAW President Shawn Fain disagreed. Workers are demanding better pay, an end to the wage tier system, improved healthcare, and a shorter workweek. Negotiations with some automakers have stalled, and there is a growing concern about the possibility of a strike.

via WXYZ 7 Action News Detroit|

#big-3-automakers #labor-day-parade #laborunion-news