financetom
Business
financetom
/
Business
/
UAW urges Stellantis workers to authorize strike, accuses car maker of breaching contract
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
UAW urges Stellantis workers to authorize strike, accuses car maker of breaching contract
Oct 1, 2024 12:39 AM

(Reuters) - The United Auto Workers union asked the workers at Stellantis ( STLA ) to authorize a strike, accusing the French-Italian car maker of breaking its contract promises, UAW President Shawn Fain said in a letter to the union's U.S. chapters on Friday.

"We unanimously recommend to the membership that every UAW worker at Stellantis ( STLA ) prepare for a fight, and we all get ready to vote YES to authorize a strike at Stellantis ( STLA )," Fain wrote in the letter that the UAW shared in a post on Facebook.

The union's grievances center around Stellantis' ( STLA ) product and investment commitments made during contract negotiations last autumn.

"We reviewed the serious violations of our contract and patterns of illegal behavior by Stellantis ( STLA ). The evidence is clear that CEO Carlos Tavares is steering Stellantis ( STLA ) on a crash course that will cause our members tremendous harm," the letter on Friday added.

Stellantis ( STLA ) reiterated that it has honored its commitments with the UAW under an agreement reached in 2023.

Chrysler-parent Stellantis' ( STLA ) North American operations have been struggling and has attracted criticism from consumers and workers who have argued it has not done enough to invigorate demand.

The main sticking points for the UAW revolve around delays of a planned multibillion-dollar investment into a new battery plant and factory in Belvidere, Illinois and possible plans by Stellantis ( STLA ) to move production of the Dodge Durango SUV out of the United States.

Fain said earlier this month that several of its union local chapters were laying the groundwork for strikes.

Tavares has said he is focused on improving Stellantis' ( STLA ) performance in the U.S., and stated a willingness to shut down brands globally if they do not make money.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Zamp to buy Starbucks brand rights, stores in Brazil from SouthRock
Zamp to buy Starbucks brand rights, stores in Brazil from SouthRock
Jun 6, 2024
SAO PAULO, June 6 (Reuters) - Brazilian restaurant chain operator Zamp has agreed to buy the rights to operate the Starbucks brand in the Latin America country, as well as some stores, for 120 million reais ($22.7 million), it said on Thursday. Zamp added in a securities filing that the deal was signed with SouthRock, the company that currently owns...
J.M. Smucker's Fiscal Q4 Adjusted Earnings Rise, Net Sales Fall; 2025 Guidance Issued
J.M. Smucker's Fiscal Q4 Adjusted Earnings Rise, Net Sales Fall; 2025 Guidance Issued
Jun 6, 2024
07:34 AM EDT, 06/06/2024 (MT Newswires) -- J.M. Smucker (SJM) reported fiscal Q4 adjusted earnings Thursday of $2.66 per diluted share, compared with $2.64 a year earlier. Analysts polled by Capital IQ expected $2.33. Net sales for the quarter ended April 30 were $2.21 billion, compared with $2.23 billion a year earlier. Analysts surveyed by Capital IQ expected $2.24 billion....
China's Nio expects second-quarter EV sales to more than double
China's Nio expects second-quarter EV sales to more than double
Jun 6, 2024
SHANGHAI, June 6 (Reuters) - Chinese electric vehicle maker Nio said on Thursday it expected deliveries in the second quarter to more than double from a year earlier to between 54,000 and 56,000. Revenue would also nearly double to about $2.3 billion in the three-month period starting April, the company said. The nine-year-old company, however, is still yet to turn...
Robinhood bets big on crypto with $200 million deal for Bitstamp
Robinhood bets big on crypto with $200 million deal for Bitstamp
Jun 6, 2024
June 6 (Reuters) - Trading platform Robinhood Markets ( HOOD ) said on Thursday it has agreed to buy cryptocurrency exchange Bitstamp for around $200 million in cash, speeding up a broader push into digital assets with its biggest ever deal. The 11-year old trading app, popular among retail traders, has been looking to expand its product offerings to mature...
Copyright 2023-2026 - www.financetom.com All Rights Reserved