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Wage Hike

All articles tagged with #wage hike

business1 year ago

American Airlines Flight Attendants Face Tensions Over 17% Wage Hike Offer

American Airlines has proposed an immediate 17% wage increase and a new profit-sharing formula for its flight attendants amid ongoing labor contract negotiations. The flight attendants, represented by the Association of Professional Flight Attendants (APFA), have not had a pay raise in over five years and are demanding a 33% increase. The union has authorized a potential strike and is pushing for a deal that reflects the current economic environment and their contributions during the pandemic. Negotiations are set to resume next week.

via Fox Business|
#american-airlines#business#flight-attendants
business1 year ago

Minneapolis Ride-Hailing Wage Hike: What's Next for Uber and Lyft

The Minneapolis City Council passed an ordinance requiring ride-hailing companies to pay drivers a higher rate, prompting Uber and Lyft to announce plans to leave the market on May 1. The state could intervene, and the city is considering potential changes to the ordinance. Residents are divided, with some supporting the wage hike to help marginalized workers, while others oppose it due to concerns about losing access to ride-hailing services.

via Fortune|
#business#lyft#minneapolis
business1 year ago

"Toyota's Historic Wage Hike Signals Japan Inc's Major Pay Shift"

Toyota Motor Corp has agreed to the largest wage increase for its factory workers in 25 years, following suit with other major Japanese companies like Panasonic, Nippon Steel, and Nissan. The substantial pay raises are expected to provide the Bank of Japan with the leeway to shift its long-held policy of negative interest rates. The wage increases are seen as a crucial step towards achieving sustainable wage growth and stable prices, with workers at major firms seeking annual raises of 5.85%, the highest in 31 years. The trend of higher wages is attributed to global factors, domestic labor shortages, and inflation, but the sustainability of these pay raises and their trickle-down effect to smaller companies remains uncertain.

via Reuters|
#bank-of-japan#business#japan-inc
business2 years ago

Honda Follows Toyota's Lead, Raises Pay for US Autoworkers After UAW Agreements

Honda Motor Co. is matching the wage hike won by the United Auto Workers (UAW) in their agreements with Detroit's three automakers. Starting in January 2024, Honda's production associates at U.S. facilities will receive an 11% wage increase, along with a decrease in the timeline to reach the top wage from six years to three. This move by Honda, along with Toyota's recent wage increases, demonstrates the domino effect on the labor market and efforts to avoid unionization. The UAW's agreement with the Detroit Three includes compounded wage increases, cost-of-living adjustments, increased retirement contributions, and a pathway to full-time for temporary workers.

via Detroit News|
#business#detroit-three#honda
automotive2 years ago

Tesla's Giga Berlin to Manufacture Affordable $27,000 EV

Tesla plans to build an affordable electric vehicle (EV) priced at around $27,000 at its Giga Berlin plant, according to CEO Elon Musk. The company is developing a fabrication technology that would allow for the production of the car's underbody in one piece, reducing costs and speeding up production. Meanwhile, Tesla workers in Germany have received a 4% wage increase amid unionization efforts by the IG Metall union. Tesla is the only major carmaker in Europe without union representation on the factory floor.

via Yahoo Finance|
#automotive#ev#giga-berlin
business2 years ago

GM Matches Ford's Wage Hike in Bid to End UAW Strike

General Motors (GM) has raised its offer to striking auto workers, matching Ford's proposed 23% wage hike and other benefit improvements. The offer represents a 25% compounded wage rise over the life of the agreement, with a 10% hike in the first year. The strike, which began on September 15, involves more than 34,000 union members at the three automakers. The latest offer from GM shows the Detroit automakers converging on similar offers that would raise hourly pay for UAW workers by around 30% over the life of the deal.

via Reuters|
#auto-strike#business#ford
labor-and-employment2 years ago

"California Gov. Newsom boosts minimum wage to $25 for healthcare workers and introduces new leave for reproductive loss"

California Governor Gavin Newsom has signed a bill that will raise the minimum wage for healthcare workers in the state, with some workers receiving a pay increase to $25 per hour. The wage hike, which has been lobbied for by labor unions, will be implemented in tiers based on factors such as the number of employees and the services provided by businesses. The new law will go into effect on June 1, and it is the first healthcare-specific mandate of its kind in California. Additionally, Kaiser Permanente and unions representing thousands of employees have reached a tentative agreement that includes pay raises and higher minimum wages for healthcare workers.

via USA TODAY|
#california#healthcare-workers#labor-and-employment
business2 years ago

Stellantis' Wage Hike Offer and Concessions: UAW Updates

Stellantis, the parent company of Jeep, has offered a 19.5% wage increase to the United Auto Workers (UAW) in its latest proposal, along with plans to consolidate aftersales parts plants, convert salaried workers to hourly, and increase the number of supplemental workers. However, the UAW criticized the offer as "concessionary" and lacking commitments on future products and investments. The strike by UAW members began after contracts expired, with workers demanding job security and fair wages. Stellantis posted a record net profit in the first half of 2023 but has yet to launch an electric vehicle in the US.

via Detroit News|
#business#concessions#stellantis
labor-relations2 years ago

"UAW Strikes Back at Ford CEO's Greed Accusations Amidst Demands for Fair Compensation"

The United Auto Workers (UAW) criticized Ford CEO Jim Farley for suggesting that their demands for higher wages were greedy, comparing them unfavorably to schoolteachers and firemen. Farley argued that the UAW's demand for a 40% wage hike over a four-year contract was excessive and could lead to bankruptcy. The UAW responded by highlighting Farley's $21 million salary and accusing him of hypocrisy. The union has initiated rolling strikes at General Motors, Ford, and Stellantis, seeking to recoup lost purchasing power and a fair share of the companies' record profits. Farley's attempt to cast the UAW as greedy is seen as a strategy to win public support, a crucial factor in strike negotiations.

via Yahoo Finance|
#ford-ceo#labor-relations#public-perception
business2 years ago

"GM's Wage Increase for UAW Workers Jeopardized by Demands"

General Motors confirms it will raise wages for UAW members in ongoing contract negotiations, but other demands such as the elimination of wage tiers and restoration of cost-of-living allowance increases "threaten" the company's ability to prioritize long-term benefits for all employees. GM emphasizes the need to balance its business interests with valuing its workforce, stating that a fair agreement rewards employees while enabling the company to maintain momentum in the EV transformation and protect U.S. manufacturing and jobs.

via Detroit Free Press|
#business#contract-negotiations#demands