All articles tagged with #wage negotiations
The Telluride Ski Resort in Colorado has been closed indefinitely due to a strike by the ski patrol union over wages, with negotiations having broken down after the resort's management refused to increase wages despite the high cost of living and union demands. The strike has impacted the resort's operations during a busy season, highlighting ongoing labor disputes in ski resorts across the US.
Air Canada flight attendants, with 99.1% voting against the company's wage offer, are heading to mediation and potentially arbitration after a major strike and government intervention, highlighting ongoing tensions over wages and labor rights in the airline industry.
Samsung's largest union, the National Samsung Electronics Union, plans to stage its first-ever strike on June 7 to demand fair compensation and better working conditions after wage negotiations stalled. The union, representing over a fifth of Samsung's workforce, seeks more transparency in performance bonuses and additional annual leave. Despite past union-busting practices, Samsung claims to be committed to good faith negotiations.
Goldman Sachs now expects the Bank of Japan to raise interest rates for the first time in 17 years at its March meeting, citing stronger-than-expected salary gains and news reports of an exit from negative rates. The central bank's senior economist anticipates the abolition of its yield curve control policy and a potential end to its ultra-loose monetary policy, as signs point to robust wage negotiations and potential inflation. If the Bank of Japan proceeds with this move, it would mark the end of its long-standing monetary policy experimentation to combat deflation.
Japan's annual "shunto" spring wage negotiations have seen major corporations, including Toyota, agreeing to significant pay increases for workers, with some exceeding union requests. The outcome of these negotiations is expected to influence the Bank of Japan's decision on when to exit its negative interest rate policy. The increase in wages is seen as crucial for stimulating consumer spending and lifting prices, potentially prompting a shift in monetary policy. However, concerns remain about stagnant wages, part-time employment, and the impact of recent inflation on domestic demand and private consumption. All eyes are now on small and medium businesses, with speculation about a potential policy shift in March or April.
After airline pilots secured significant pay raises, flight attendants from major U.S. airlines including United, American, Southwest, and Alaska are now pushing for higher wages and improved working conditions through mass pickets at airports. Stagnant pay and increased job stress during the pandemic have prompted flight attendants to demand better compensation, with unions seeking ground pay or boarding pay to reflect pre-takeoff work. While strike threats loom and some unions have approved strike authorizations, negotiations with federal mediation are ongoing, with Southwest Airlines' flight attendants recently rejecting a tentative agreement.
Labor unions in France are calling for a one-day strike at Ubisoft studios over lowball wage increase offers, which they claim are aimed at offsetting management failures. The unions are demanding a general wage increase of 5%, while management is offering an increase of 2-3%, "depending on the studio." The strike is scheduled for February 14, and is a response to what the unions see as unacceptable proposals and an attempt to encourage "natural attrition" among employees. This action is possible in France due to rights and protections to workers through the country's labor laws.
The Bank of Japan is set to revise its forecast for the consumer price index through fiscal 2025 and assess the sustainability of the relationship between wages and prices. The release of the new 'Outlook' report, which provides detailed insights into Japan's economic conditions, is expected to influence the country's monetary policy. The report represents the collective outlook of the Bank of Japan's policy committee and plays a significant role in shaping the country's economic policies. If the CPI forecasts are adjusted higher, it could pave the way for a potential policy pivot from the Bank in the coming months, as it awaits the results of wage negotiations in Japan.
Unionized auto workers from General Motors, Ford, and Stellantis (Chrysler) went on strike simultaneously at three assembly plants in Detroit, demanding higher wages and benefits. The strikes, supported by President Joe Biden, aim to pressure the automakers into sharing their record profits. The United Auto Workers union is seeking across-the-board wage increases of 36% over four years, while the companies have offered increases ranging from 17.5% to 20%. The strikes could expand to more plants if better offers are not made. The new negotiating tactic, led by union president Shawn Fain, marks a departure from the traditional one-on-one negotiations and could have ripple effects on the industry and future labor relations.
The United Auto Workers (UAW) union has filed unfair labor practice charges against General Motors (GM) and Stellantis, accusing them of refusing to bargain in good faith. Ford Motor offered a 9% wage increase through 2027, much lower than the 46% wage hike sought by the union. The UAW demands include a 20% immediate wage hike, defined-benefit pensions for all workers, shorter work weeks, and additional cost-of-living hikes. The current labor agreements covering 146,000 workers at the Detroit Three automakers expire on September 14. Both GM and Stellantis denied the unfair labor charges, while Ford said its offer was significantly better than what workers earn at Tesla and foreign automakers.
West Coast ports are shutting down as union workers "no show" after a breakdown in negotiations with port management over wages. The stoppages are expected to spread across the West Coast as workers protest, with operations also reportedly stopping at the port hub of Los Angeles. While the actions taken by workers are not a formal strike, truck drivers are being turned away at Los Angeles sites. Any port closure creates backups that impact both the pickup and drop off of products by truck drivers.