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Striking UAW Workers Are Losing the Race Against Inflation

Striking UAW Workers Are Losing the Race Against Inflation
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United States , David Welch , Gabrielle Coppola , Keith Naughton , Josh Eidelson , Jay Makled , Shawn Fain , Landen Bradshaw , Jim Farley , Ford Motor Co , Census Bureau , Federal Reserve Bank , Department Of Housing , Motors Co , United Auto Workers , Bloomberg News , Kentucky Truck Plant ,

Why retirement pensions are so critical to UAW strikers | National and World News

On picket lines around the country, auto workers aren’t just demanding higher wages. They want to get back their once-sacred retirement pensions. While United Auto Workers members who were hired prior to the 2008 financial crisis have pensions, those brought on since have received 401(k) plans instead. The union is demanding the auto companies provide pensions for new employees and those who currently lack them. Ford Motor Co., General Motors Co. and Stellantis NV are determined to consign pensions to the past even as striking UAW members are just as keen to revive them. The fight has resonance well beyond the auto industry: With inflation persisting as the U.S. enters another fraught presidential election cycle, the plight of the middle class — and the financial condition of millions of retirees — is front and center.

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San Francisco State University , United States , Jim Farley , John Logan , Jay Makled , Bryan Ashley , Arthur Wheaton , United Parcel Service Inc , Ford Motor Co , Motors Co , Employment Studies Department , United Auto Workers , General Motors , Labor Studies , Cornell University , Labor Relations , Employment Studies , San Francisco State , Bloomberg Intelligence , Chief Executive Jim Farley , United Parcel Service , Ee National ,

Why retirement pensions are so critical to UAW strikers

On picket lines around the country, auto workers aren’t just demanding higher wages. They want to get back their once-sacred retirement pensions. While United Auto Workers members who were hired prior to the 2008 financial crisis have pensions, those brought on since have received 401(k) plans instead. The union is demanding the auto companies provide pensions for new employees and those who currently lack them. Ford Motor Co., General Motors Co. and Stellantis NV are determined to consign pensions to the past even as striking UAW members are just as keen to revive them. The fight has resonance well beyond the auto industry: With inflation persisting as the U.S. enters another fraught presidential election cycle, the plight of the middle class — and the financial condition of millions of retirees — is front and center.

....

San Francisco State University , United States , Jim Farley , Arthur Wheaton , John Logan , Jay Makled , Bryan Ashley , Employment Studies Department , Ford Motor Co , Motors Co , United Parcel Service Inc , United Auto Workers , General Motors , Labor Studies , Cornell University , Labor Relations , Employment Studies , San Francisco State , Bloomberg Intelligence , Chief Executive Jim Farley , United Parcel Service , Ee National ,