09:46 AM EDT, 10/29/2024 (MT Newswires) -- (Updates with Ford comment in the fourth paragraph and price movement in the last paragraph.)

Ford Motor ( F ) workers across the UK will strike starting Wednesday after labor negotiations broke down, British union Unite said Tuesday.

Over 1,000 administrative staff will walk out for 24 hours, Unite said.

The union cited Ford's lack of a permanent pay increase offer for the failed negotiations. "Instead, the company has offered many of its office workers a one-off payment for 2024 and wants to impose 100% performance related pay from 2025 for all staff," Unite said.

"Considering the overall competitiveness of our general salary roll employee pay and benefits package, the company's final offer of a 5% total pay increase for 2023/24 is fair and balanced," Ford said in an emailed statement to MT Newswires. "We will continue to engage with Unite and our valued employees and endeavor to resolve the matter."

Shares of the company were down nearly 10% in recent trading.

Price: 10.27, Change: -1.10, Percent Change: -9.67