The median FTSE 100 CEO in the UK was paid 118 times more than the median full-time worker, with bosses receiving average pay increases of around $5m in 2022 amid a cost-of-living crisis, according to a study by the High Pay Centre think tank. Workers unions criticized these findings, calling it a "land of grotesque extremes" while highlighting the struggle of households dealing with rising living costs.
The United Auto Workers (UAW) union, led by President Shawn Fain, is preparing for a potential strike as contract negotiations with the Big Three Detroit automakers become more contentious, with the union requesting substantial pay raises, an end to wage tiers, restoration of pensions for new hires, cost-of-living increases, and other benefits.
The United Auto Workers union and three Detroit automakers are facing a looming strike as contract negotiations stall, potentially impacting the U.S. economy and the companies' profits amid the shift to electric vehicles and demands for improved wages and benefits.
Labor unions across the United States, from UPS employees to United Autoworkers, are demanding better working conditions and higher wages due to increased workloads and insufficient pay, leading to an increase in strikes.
The United Auto Workers union representing workers at the Big 3 U.S. automakers is demanding a four-day workweek at full-time pay, a 46% wage increase, and a share of company profits, threatening to strike if an agreement is not reached by September 14.
GM, Ford, and Tesla are expected to face rising labor costs, whether or not a strike occurs as the United Auto Workers' labor deal with the Detroit-Three automakers nears its expiration.
Union workers across industries, including the United Auto Workers, are demanding substantial pay raises of around 50% over four to five years, citing years of stagnant wages and robust company profits, with some unions successfully securing significant wage increases that exceed the expected rate of inflation.
General Motors has offered its largest four-year wage increase in decades to the United Auto Workers, with most workers receiving a 10% increase and newer employees eligible for up to a 56% increase, in an attempt to avoid a strike.
The United Auto Workers are in negotiations with the "Big Three" U.S. automakers over a new labor contract, with the possibility of a strike looming as talks have been rocky and counteroffers have been rejected.
United Auto Workers President Shawn Fain stated that the Detroit Three automakers, including Stellantis, Ford, and General Motors, are making progress towards meeting the union's demands as the deadline for current contracts approaches. Stellantis offered a 14.5% wage increase, Ford proposed a cost-of-living wage adjustment, and GM suggested a 10% boost, but the offers still fall short of the UAW's requested 46% increase.
Approximately 146,000 U.S. auto workers are poised to go on strike if General Motors, Ford, and Stellantis fail to meet their demands for substantial pay raises and restored benefits, potentially causing significant disruptions in auto production and impacting the U.S. economy.
If a strike occurs among the United Auto Workers at Detroit's Big 3 automakers, Tesla could benefit by potentially pushing back production and delays for its rivals in the electric vehicle market.
The United Auto Workers union could potentially strike at Detroit's Big Three automakers if a deal isn't reached by the contract deadline, although progress is being made in the talks regarding wages.
A potential strike by the United Auto Workers could have wide-ranging economic impacts, including higher car prices and job losses at suppliers, with a prolonged strike even potentially pushing the economy toward a recession.
Ford CEO responds to union criticisms as the United Auto Workers prepare for a strike against all three automakers.
The United Auto Workers' strike against car companies in Michigan is seen as a real-time test of President Biden's economic agenda and policy positions, including higher wages for the middle class, support for unions, and the push for an electric vehicle future.
Summary: Union workers at America's Big Three automakers—GM, Ford, and Stellantis—have initiated a historic triple strike over contract disputes, marking the first-ever simultaneous strike against the automakers and potentially costing over $5 billion if it lasts ten days, according to projections by the Anderson Economic Group.
The United Auto Workers (UAW) held a limited and targeted strike against General Motors, Ford, and Stellantis over issues including pay, pensions, and work hours, with demands for a 40% wage increase over four years and improvements to retiree benefits; the automakers have offered wage increases of around 14.5% to 20% over the same period, citing investments in electric vehicle production and the need to balance wage increases with costs associated with EV development.
The strike by United Auto Workers against the Big 3 carmakers has sparked concern among stock-market investors over the impact on the economy, supply chains, and corporate profits.
More than 12,000 workers at the Big Three automakers are on strike in Michigan, Ohio, and Missouri due to inadequate wages and benefits, demanding higher pay and an end to the tiered employment system.
Autoworkers strike as United Autoworkers Union demands 36% pay increase over four years, affecting Michigan, Ohio, and Missouri; President Biden to speak on the matter later today.
The United Auto Workers strike against the Big Three automakers continues as negotiations over pay and benefits remain far apart, affecting thousands of workers and causing temporary layoffs at nonstriking plants.
The auto workers' strike, although currently limited in its impact, could have significant growth implications if it expands and persists, potentially causing a 1.7 percentage point quarterly hit to GDP and complicating policymaking for the Federal Reserve.
The United Auto Workers strike presents a risk to the U.S. economy, but it also demonstrates that workers are advocating for their fair share in a strong macroeconomy, according to Council of Economic Advisers Chair Jared Bernstein.
The ongoing United Auto Workers strike against the Big Three automakers could result in gains for Tesla and foreign automakers as Ford, GM, and Stellantis face challenges in transitioning to electric vehicles and potentially raising prices, according to Wedbush analysts.
The United Auto Workers union is set to escalate their strike against the Big Three automakers in an effort to combat stagnant wages and other concessions, with UAW President Shawn Fain expected to announce which plants will join the strike next.
The United Auto Workers union is expanding its strike against major automakers by walking out of 38 General Motors and Stellantis plants in 20 states, citing demands for higher wages and shorter working hours.
The United Auto Workers' strike against GM and Stellantis expands as thousands of workers walk off the job at distribution centers, demanding better wages and job security.
The United Auto Workers strike is exacerbating supply chain issues and causing delays in car repairs due to a strained car parts market.
General Motors estimates that the United Auto Workers strike will cost around $200 million during the third quarter and has filed for additional credit of up to $6 billion in case of ongoing labor troubles.
Negotiators for the United Auto Workers (UAW) and Ford Motor have made progress on pay increases, but significant issues such as pay and union representation at future battery plants remain unresolved, as the ongoing strike against the Detroit Three automakers enters its 20th day.
The United Auto Workers strike against the Detroit-Three auto makers has made significant progress, giving the union a major breakthrough.
The United Auto Workers' strike against Detroit's Big Three automakers has cost the U.S. economy $5.5 billion, making it the most expensive auto industry strike of the century.
The United Auto Workers union escalated its strikes against Detroit Three automakers by walking off their jobs at Ford's Kentucky truck plant, affecting the largest and most profitable Ford plant in the world.
The president of the United Auto Workers (UAW) labor union leading the strike against major U.S. automakers earned a high salary of $347,389, placing him in the top 5% of earners in his home state of Indiana.
Thousands of United Auto Workers Union members are in their fifth week of striking against the Detroit Three automakers, with 8,700 workers at Ford's largest plant walking off the job and risking the company losing approximately $30 million per day in profit.
