Ford Agrees To 25% Wage Hike: The United Auto Workers (UAW) has reached a tentative labor agreement with Ford Motor Co, which includes a record 25% hourly wage hike over the life of the contract. The deal is expected to be ratified by Ford s 57,000 US hourly workers, a process that could take weeks. UAW hopes that General Motors Co and Stellantis NV will agree to similar terms, putting pressure on them to end the strike that has cost the industry billions of dollars. The strike has affected multiple plants and facilities, causing significant financial losses for the automakers involved.
General Motors reported better-than-expected quarterly profits Tuesday behind strong US sales and a limited impact from a labor strike that began late in the quarter. The big US automaker reported third-quarter profits of USD 3.1 billion, down seven percent from the year-ago period but better than analyst estimates, as it withdrew its full-year forecast due to uncertainty over the strike, which is nearing its sixth week.
DETROIT (AP) — The United Auto Workers union has turned up the heat on General Motors as 5,000 workers walked off their jobs Tuesday at a highly profitable SUV