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Sheila McGee - 2 Michael Swensen - 2 Shawn Fain - 2 Fain - 2 Ford - 2 walkouts - 2 Lauren Silva Laughlin - 2 Jeffrey Goldfarb - 2
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Louisville , Kentucky U.S Detroit Wells Berlin Germany
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Search resuls for: "company’s Automotive"


4 mentions found


☆ Continental layoffs: German car parts maker plans thousands of job cuts
  + stars: | 2023-11-13 | by ( ) edition.cnn.com   time to read: +2 min
Berlin — German car parts manufacturer Continental will cut thousands of jobs worldwide as part of a plan to save €400 million ($428 million) a year from 2025, it said Monday. The cuts, in the company’s Automotive division, which produces software, safety features and autonomous driving technology, will amount to the “mid-four-digit range,” Continental said. The group’s main businesses are making tires; the Automotive division; and a third division making digital technologies for autos and other sectors called ContiTech. The number of business areas within the Automotive division will be reduced from six to five. Last week the company reported that the Automotive business returned to profit in the third quarter and predicted a strong quarter ahead.
Persons: Nikolai Setzer Organizations: Continental, company’s Automotive, Automotive, Reuters Locations: Berlin, Germany
☆ Breakingviews: Carmakers will blink first in union standoff
  + stars: | 2023-09-22 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +3 min
REUTERS/Michael Swensen Acquire Licensing RightsNEW YORK, Sept 22 (Reuters Breakingviews) - Detroit will run out of road before its unions do. In 2019, when a UAW strike closed manufacturing at GM for 40 days, it reduced output by 300,000 vehicles and operating profit by $3.6 billion. The crux of negotiations probably will come down to wages, where Fain said Ford has budged, including the reinstatement of cost-of-living increases. With the UAW prepared to endure, Detroit will be pressured to blink. The union on Sept. 15 initiated targeted walkouts at three plants owned by the three Detroit vehicle manufacturers.
Persons: Sheila McGee, Michael Swensen, Shawn Fain, Fain, Ford, walkouts, Lauren Silva Laughlin, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Ford, UAW, REUTERS, Reuters, United Auto Workers, General Motors, GM, Ford Motor, Detroit, Thomson Locations: Louisville , Kentucky, U.S, Detroit, Wells
☆ Carmakers will blink first in union standoff
  + stars: | 2023-09-22 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +3 min
REUTERS/Michael Swensen Acquire Licensing RightsNEW YORK, Sept 22 (Reuters Breakingviews) - Detroit will run out of road before its unions do. In 2019, when a UAW strike closed manufacturing at GM for 40 days, it reduced output by 300,000 vehicles and operating profit by $3.6 billion. The crux of negotiations probably will come down to wages, where Fain said Ford has budged, including the reinstatement of cost-of-living increases. With the UAW prepared to endure, Detroit will be pressured to blink. The union on Sept. 15 initiated targeted walkouts at three plants owned by the three Detroit vehicle manufacturers.
Persons: Sheila McGee, Michael Swensen, Shawn Fain, Fain, Ford, walkouts, Lauren Silva Laughlin, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: Ford, UAW, REUTERS, Reuters, United Auto Workers, General Motors, GM, Ford Motor, Detroit, Thomson Locations: Louisville , Kentucky, U.S, Detroit, Wells
☆ Ford takes $2.7 billion hit as it drops efforts to develop full self-driving cars
  + stars: | 2022-10-26 | by ( Chris Isidore Matt Mcfarland Peter Valdes-Dapena | Chris Isidore | Matt Mcfarland | ) edition.cnn.com   time to read: +4 min
Instead of having Argo develop self-driving car technology for cars without steering wheels, brakes or accelerator pedals — what is known in the industry as Level 4 or L4 technology — Ford will instead pursue in-house development of a lower level of automated driving technology. Ford reported automotive revenue of $37.2 billion, a jump of $4 billion from a year ago and $1 billion more than the analysts’ forecasts. It also was hit with $1 billion in higher-than-expected supplier payments, and a $1.5 billion increase in commodity costs. But in the end, the big news of the earnings report was a major change in direction on self-driving vehicles. He said there is only so much talent available to develop the different driver assistance and self-driving features.
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