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☆ GM initiates $10 billion buyback, boosts dividend and reinstates 2023 guidance after UAW strikes
▼ + stars: | 2023-11-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

General Motors is seeking to regain Wall Street's confidence leading into 2024 with several investor-focused initiatives Wednesday following a tumultuous year of labor strikes and setbacks in its plans for electric and autonomous vehicles. GM's reinstated 2023 guidance also includes:Net income attributable to stockholders of $9.1 billion to $9.7 billion, compared to a previous outlook of $9.3 billion to $10.7 billion. Adjusted EBIT of $11.7 billion to $12.7 billion, compared to the previous outlook of $12.0 billion to $14.0 billion. Adjusted earnings per share of roughly $7.20 to $7.70 including the stock buyback, compared to the previous outlook of $7.15 to $8.15. Before the UAW strikes, CFO Paul Jacobson said the company was on track to achieve "toward the upper half" of its earnings forecast.

Persons: Mary Barra, General Motors, GM's, Paul Jacobson Organizations: General Motors Company, Milken Institute Global Conference, General, Detroit, United Auto Workers, GM, UAW Locations: Beverly Hills , California

☆ GM says union labor deals will increase costs by $9.3 billion
▼ + stars: | 2023-11-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

General Motors expects new labor contracts with the United Auto Workers and Canadian union Unifor to increase its costs by $9.3 billion and add approximately $575 in costs per vehicle during the terms of the deals. GM disclosed the expected labor deal impact as part of a business update Wednesday in which it initiated a $10 billion accelerated stock buyback program, increased its dividend and reinstated its full-year 2023 guidance. GM said the $9.3 billion in labor cost increases are expected to occur as follows: $1.5 billion in 2024; $1.8 billion in 2025; $2.1 billion in 2026; $2.5 billion in 2027; and $1.1 billion from January-April 2028. GM's expected vehicle cost increase includes $500 per vehicle in 2024. Chrysler parent Stellantis , which was the second of the so-called Big 3 U.S. automakers to reach a deal with the UAW, has not disclosed expected costs of its labor pact with the union.

Persons: —, Mary Barra, John Lawler Organizations: Motors, United Auto Workers, Canadian, UAW, GM, Detroit, Ford Motor, Ford, Chrysler, CNBC PRO Locations: —, U.S

☆ UAW launches bid to organize Tesla and 'entire non-union auto sector'
▼ + stars: | 2023-11-29 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

Shawn Fain, president of the United Auto Workers (UAW) speaks as U.S. President Joe Biden (not pictured) joins striking members of the United Auto Workers (UAW) on the picket line outside GM's Willow Run Distribution Center, in Belleville, Wayne County, Michigan, U.S., September 26, 2023. REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsWASHINGTON, Nov 29 (Reuters) - The United Auto Workers union said on Wednesday it is launching a first-of-its-kind push to publicly organize the entire nonunion auto sector after winning new contracts with the Detroit Three automakers. "To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video posted on a website urging auto workers to sign electronic cards seeking union representation. "I want this type of contract for all auto workers and I have a feeling the UAW has a plan for that," he said at an event with Fain. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers.

Persons: Shawn Fain, Joe Biden, Evelyn Hockstein, Fain, Tesla, Elon Musk, David Shepardson, Ben Klayman, Matthew Lewis Organizations: United Auto Workers, UAW, REUTERS, Rights, Detroit Three automakers, Tesla, Toyota, Volkswagen, Hyundai, Nissan, BMW, Mercedes, Benz, Detroit, General Motors, Ford Motor, Detroit Three, Lexus ES, Union, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Detroit, Mississippi, Tennessee, Chattanooga , Tennessee, Georgetown , Kentucky, Washington

That law, supported by Biden and congressional Democrats, created tax credits to boost domestic EV manufacturing. "The point is that they're manufacturing jobs, whether they be baskets or batteries." A Trump spokesperson pointed Reuters to a recent policy announcement in which the former president said EV manufacturing would harm workers. Biden's campaign pointed Reuters to a statement from Kevin Munoz, a campaign spokesman, who said Trump's plan would mean more Chinese EV manufacturing jobs and fewer American jobs. Still, Ciscomani, who did not respond to comment requests, has generally welcomed individual EV projects, and toured a local EV plant in August.

Persons: Rebecca Cook, Donald Trump, Ron DeSantis, Joe Biden, Biden, Trump, Mike Morey, SKDK, Andrew Reagan, Kirsten Engel, EVs, Jesse Williams, Joe, Anna Kelly, DeSantis, Kevin Munoz, Munoz, Brian Kemp, Wendy Davis, Engel, Juan Ciscomani, Ciscomani, Gram Slattery, Nichola Groom, Jarrett Renshaw, Alistair Bell Organizations: General Motors, Bolt, Orion Assembly, REUTERS, Rights, Florida, Democratic, Republican, EV, Power, Reuters, Democrats, Energy, America, Environmental Defense Fund, Biden, RMI, Republican Party, Trump, United Auto Workers, UAW, Republican National Committee, United States, Climate Power, League of Conservation Voters, Thomson Locations: Lake Orion , Michigan, U.S, Georgia , Arizona , Nevada, Michigan, Wisconsin , Pennsylvania, North Carolina, Michigan , Georgia, Arizona, America, North America, Decatur County , Georgia, China, South, United, Georgia, Rome , Georgia, Washington, Los Angeles

☆ Volkswagen becomes the latest automaker to hike wages for U.S. factory workers
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 22 (Reuters) - Volkswagen (VOWG.DE) said on Wednesday that it would hike salaries for production workers at its Tennessee-based Chattanooga assembly plant by 11%, weeks after the United Auto Workers union won significant pay and benefit hikes from the Detroit Three automakers. Japanese automakers Honda Motor (7267.T) and Toyota (7203.T) have raised wages for non-union U.S. factory workers in recent weeks amid signs that the union is turning its attention to organizing the workforce at foreign-owned and Tesla auto plants. Hyundai Motor (005380.KS) has also announced a 25% increase over the next four years for non-union production workers in Alabama and Georgia. UAW President Shawn Fain told Reuters last week that the union was getting expressions of interest in organizing from many Tesla (TSLA.O) workers.

Persons: Andrew Kelly, Shawn Fain, Elon, Mehr Bedi, Tasim Zahid Organizations: New York, REUTERS, United Auto Workers, Detroit Three automakers, UAW, Honda, Toyota, U.S, Hyundai, Reuters, Thomson Locations: Manhattan , New York City, U.S, Tennessee, Chattanooga, Alabama, Georgia, Bengaluru

☆ US durable goods orders fall on weakness in transportation equipment sector
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

Durable goods are seen on sale in a store in Los Angeles, California, U.S., March 24, 2017. Economists polled by Reuters had forecast durable goods orders would decline 3.1%. Durable goods orders rose 4.0% on a year-over-year basis in October. These so-called core capital goods orders were previously reported to have risen 0.5% in September. Business spending on equipment spending contracted in the third quarter.

Persons: Lucy Nicholson, Detroit's, Lucia Mutikani, Paul Simao Organizations: REUTERS, Rights, United Auto Workers, UAW, Data, Reuters, Manufacturing, General Motors, Ford, Chrysler, Civilian, Boeing, Machinery, Thomson Locations: Los Angeles , California, U.S, Department's

☆ Unions are the strongest in decades. Nearly a million Americans got double-digit raises as a result
▼ + stars: | 2023-11-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +12 min

New York CNN —Nearly 900,000 Americans sitting down to Thanksgiving dinner this week will have unions – and the double-digit pay increases they won – to thank. The strike lasted more than six weeks before the union won contracts it was seeking from all three unionized US automakers. The unions won significant pay increases and job protections they were seeking. And even with some of the contracts that pass, some union members offer significant opposition, believing they could have negotiated for even more. The union won a contract approved by 86% of membership who voted on ratification.

Persons: “, ”, Wheaton, Emily Elconin, David Paul Morris, Stellantis, Kate Andrias, Mike Blake, It’s, Greg Regan, ” Regan, Heidi Shierholz, union’s, Cornell’s Wheaton, That’s, EPI’s Organizations: New, New York CNN, CNN, Cornell University’s School of Industrial and Labor Relations, United Auto Workers, General Motors, Ford, Kaiser Permanente, Ford Motor Co, Michigan Assembly, Bloomberg, Getty, Writers Guild, SAG, Teamsters, UPS, Culinary, Los, Pilots, American, United, Southwest, The, Professional, American Airlines, FedEx, United Airlines, San Francisco International Airport, Detroit, MGM Entertainment, UAW, Big, GM, Labor, Columbia Law, Motors, Workers, AFL, Economic Policy Institute, Labor Department, Union, Toyota, Honda, Hyundai, Starbucks, Starbucks Workers United, ” Locations: New York, Buffalo, Kaiser, Michigan, Wayne , Michigan, DisneyWorld, Los Angeles, Vegas

According to Fain, workers at some nonunion plants, including the electric vehicle sales leader, Tesla, have contacted the UAW about joining the union, which hasn't even begun its organizing efforts. Fain declined to say which nonunion companies the UAW would target first. The union, Fain says, also will have to organize Detroit automakers' EV battery plants, which are joint ventures with South Korean companies. He noted the concessions the UAW agreed to in 2008 to help the automakers survive dire financial problems. This time, he said, union members negotiated for themselves but also won raises for nonunion workers in the South who would have received nothing without the UAW.

Persons: Shawn Fain, —, Fain, Stellantis, Tesla, hasn't, ”, “, ” Fain, Elon Musk, ” Musk, Ford, Jim Farley, haven't, He'd Organizations: DETROIT, —, United Auto Workers, U.S, Toyota, Associated Press, UAW, Honda, Hyundai, Nissan, General Motors, Ford, SpaceX, Detroit, EV, South, GM Locations: Detroit, Mexico, Kentucky, Tennessee, Michigan, Canada, U.S

Nov 20 (Reuters) - The United Auto Workers (UAW) said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts after a six-week targeted strike, as the union turns its attention to organizing foreign-owned and Tesla auto plants. The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers. In recent weeks, Hyundai Motor (005380.KS), Toyota Motor (7203.T) and Honda Motor (7267.T) have all announced they would hike U.S. factory wages after the UAW contract. Fain told Reuters last week that the UAW was getting expressions of interest in organizing from many Tesla (TSLA.O) workers. Automakers, looking to trim costs as they make the shift to electric vehicles, face higher hourly labor costs.

Persons: Shawn Fain, Fain, Joe Biden, Biden, ”, Jim Farley, Farley, Mary Barra, Gerald Johnson, Mark Stewart, David Shepardson, Chizu Nomiyama, Sriraj Kalluvila, Jonathan Oatis, Aurora Ellis Organizations: United Auto Workers, UAW, Detroit Three, Hyundai Motor, Toyota, Honda, Reuters, “, Tesla, Ford, General Motors, Thomson Locations: U.S, Washington

☆ UAW says 64% of workers vote to ratify Detroit Three contracts
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +2 min

Nov 20 (Reuters) - The United Auto Workers (UAW) union said Monday that 64% of workers at the Detroit Three automakers voted to ratify new contracts. Despite the opposition from workers at some major facilities, UAW members voted to ratify the contract by a near two-third margin. Automakers, looking to trim costs as they make the shift to electric vehicles, face higher hourly labor costs. About 55% of votes cast by GM members were in favor of the new deal, while about 69% of Ford members and 68% of Stellantis workers who voted supported the agreement, according to a UAW vote tracker. Reporting by David Shepardson and Shivansh Tiwary; Editing by Chizu Nomiyama and Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Shawn Fain, Ford, Jim Farley, David Shepardson, Chizu Nomiyama Organizations: United Auto Workers, UAW, Detroit Three, U.S, Ford, GM, Chrysler, Thomson Locations: Michigan , Kentucky, Illinois

☆ Nissan Motor hiking wages at US auto plants after UAW deal
▼ + stars: | 2023-11-20 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Nov 20 (Reuters) - Nissan Motor (7201.T) will hike top wages for workers at U.S. manufacturing plants by 10% in January after the United Auto Workers union reached new contracts with the Detroit Three automakers, a company spokesperson said on Monday. The Japanese automaker said the wage hike takes effect Jan. 8 for production technicians, maintenance, and tool & die technicians. Nissan said it is also eliminating wage tiers for U.S. production workers. Nissan said the pay hikes reflect its commitment to its employees in the United States "and enhancing our competitiveness." The UAW for decades has unsuccessfully sought to organize auto factories operated by foreign automakers.

Persons: Shawn Fain, Joe Biden, David Shepardson, Franklin Paul, Grant McCool Organizations: Nissan, United Auto Workers, Detroit Three, Workers, Hyundai Motor, Toyota, Honda, UAW, Tesla, General Motors, Ford Motor, Thomson Locations: U.S, United States, Washington

Workers at Ford voted 69.3% in favor of the pact, which passed with nearly a 15,000-vote margin in balloting that ended early Saturday. Earlier this week, GM workers narrowly approved a similar contract. They also agreed in principle to bring new electric-vehicle battery plants into the national union contract. This provision will give the UAW an opportunity to unionize the EV battery plants plants, which will represent a rising share of industry jobs in the years ahead. Contracts with the auto companies should also lead to higher wages at auto-parts supply companies and in other industries, Wheaton said.

Persons: Shawn Fain, Fain, ”, Wheaton, United States —, Hyundai —, Mark McGill, ” McGill, he'll, Ford, John Lawler, Michelle Krebs, Krebs, Joe Biden, Cornell's Wheaton, Biden, didn't Organizations: DETROIT, United Auto Workers, Ford, General Motors, Workers, UAW, Cornell University, United States — Honda, Toyota, Hyundai, Tesla, Foreign, GM, Chrysler, Bronco, Cox Automotive, Cox Locations: Stellantis, United States, Wheaton, Wayne , Michigan, U.S, Detroit, Belvidere , Illinois, Scranton , Pennsylvania

☆ Here’s why the Big Three won’t need to raise car prices to pay for these labor deals
▼ + stars: | 2023-11-18 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

“The labor contracts don’t mean you go to a dealership and the car costs more money,” said Ivan Drury, analyst for sales tracker Edmunds. If the Big Three could simply pass along higher costs, be it raw material, labor other expenses, in the form of higher prices, no automaker would ever lose money. Even if the labor costs could be passed along in terms of higher prices, it woudn’t be nearly as much as you might think. Any additional labor costs are more likely to eat into automaker profits than they are to raise prices. Another factor driving car prices higher was the desire of consumers to buy cars with more features and options that are now available but were not available in the past.

Persons: Stellantis, it’s, ”, Ivan Drury, Edmunds, That’s, Michelle Krebs, John Lawler Organizations: New, New York CNN, United Auto Workers, General Motors, Ford, GM, Toyota, Honda, Hyundai, UAW, Cox Automotive Locations: New York, “, American

☆ UAW Members Approve New Contract With Stellantis After Autoworkers Strike
▼ + stars: | 2023-11-17 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

President Biden celebrated new labor contracts between the United Auto Workers union and the three major car companies on Nov. 9 while visiting an auto plant in Belvidere, Ill. Photo: Olivier Douliery/AFP/Getty ImagesUnited Auto Workers employees at Chrysler-parent Stellantis have voted overwhelmingly to approve a new labor contract, bringing the tense round of negotiations between the union and Detroit’s carmakers one step closer to completion. The deal was supported by about 68% of Stellantis workers who voted so far, with only a handful of small facilities having yet to report, according to preliminary results published online Friday by the UAW. Votes from those remaining local chapters wouldn’t be enough to overcome the current margin, according to the union’s tally.

Persons: Biden, Olivier Douliery, Stellantis, Detroit’s Organizations: United Auto Workers, Getty, Chrysler, UAW, Votes Locations: Belvidere , Ill, AFP

☆ Ford union workers ratify UAW deal, closing out historic negotiations with Detroit automakers
▼ + stars: | 2023-11-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023. DETROIT — Union members at Ford Motor approved a tentative agreement Friday, concluding contentious contract negotiations between the United Auto Workers and Detroit automakers. According to the UAW's vote tracker, which must still be finalized, the Ford deal was supported by 68.2% of the nearly 35,000 autoworkers at Ford who voted. Local UAW chapters representing every Ford plant voted in favor of the pact aside from a small parts facility in Florida and the automaker's massive Kentucky Truck Plant, as of early Friday afternoon. The contract ratifications come weeks after the automakers and union reached tentative deals, ending about six weeks of targeted strikes by the UAW.

Persons: Ford, ratifications, Shawn Fain Organizations: United Auto Workers, Plant, DETROIT — Union, Ford Motor, Detroit, UAW, Ford, General Motors, Local UAW, Dearborn, Stellantis, GM Locations: Michigan, Wayne , Michigan, Florida, Plant

☆ Stellantis workers vote to ratify new labor contract
▼ + stars: | 2023-11-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' Delgado/File Photo Acquire Licensing RightsWASHINGTON, Nov 17 - United Auto Workers (UAW) members at Chrysler parent Stellantis NV (STLAM.MI) have voted to ratify tentative record-setting labor deal, the union's vote tracker showed on Friday. The contract also hikes wages of current temporary workers by 150% by 2028 and will make them permanent employees. Workers on Thursday at General Motors (GM.N) voted to approve the deal, with about 55% of nearly 36,000 members in favor. Another 2,500 Stellantis U.S. salaried workers are unionized and are not being offered the current buyout.

Persons: David, Dee, Delgado, Stellantis, David Shepardson, Nathan Gomes, Arun Koyyur, Nick Zieminski, Jonathan Oatis Organizations: New York, REUTERS, Rights, United Auto Workers, UAW, Chrysler, Stellantis, Detroit Three, Workers, General Motors, Ford, Thomson Locations: Manhattan , New York City, U.S, Washington, Bengaluru

☆ UAW members ratify new contract with Chrysler owner Stellantis
▼ + stars: | 2023-11-17 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

United Auto Workers members rally outside Stellantis' Ram 1500 plant in Sterling Heights, Michigan, after the union called a strike at the plant on Oct. 23, 2023. DETROIT – United Auto Workers members at Chrysler owner Stellantis have ratified a new labor contract following a historically contentious round of bargaining between the union and company, according to preliminary results posted Friday by the union. UAW members with Ford Motor are on pace to also ratify their agreement, but are continuing to vote Friday. The Stellantis deal received notable objection at the automaker's Jeep plants in Toledo, Ohio, with 55% of workers there opposing the deal. The contract ratifications come weeks after the automakers and the union reached tentative deals, ending roughly six weeks of targeted strikes by the UAW.

Persons: Stellantis, they've, ratifications Organizations: United Auto Workers, DETROIT – United Auto Workers, Chrysler, Detroit automakers, General Motors, UAW, GM, Ford, Stellantis Locations: Sterling Heights , Michigan, DETROIT, Illinois, Toledo , Ohio

The three contracts, if approved by 146,000 union members, would dramatically raise pay for autoworkers, with increases and cost-of-living adjustments that would translate into a 33% wage gain. Top assembly plant workers would earn roughly $42 per hour when the contracts expire in April of 2028. Several smaller facilities were still voting, many of them parts warehouses or component factories where workers got big pay raises and were expected to approve the contract. Full-time temporary workers liked the large raises they received and the chance to get top union pay, he said. In the deals with all three companies, longtime workers would get 25% general raises over the life of the contracts with 11% up front.

Persons: Keith Crowell, didn’t, ” Crowell, “, Shawn Fain, Joe Biden Organizations: DETROIT, United Auto Workers, General Motors, Big, GM, Ford, Dodge, Workers, Chrysler, UAW, Biden Locations: Stellantis, Lansing , Michigan, Arlington , Texas, Wentzville , Missouri, Lansing Delta Township , Michigan, Spring Hill , Tennessee, Arlington, Detroit

☆ GM union workers ratify UAW deal following contentious vote
▼ + stars: | 2023-11-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT – General Motors union workers ratified a record deal with the United Auto Workers after a contentious final few days of voting, according to results posted Thursday morning by the union. Ratification of the deal came under doubt Wednesday morning, after seven of GM's 11 U.S. assembly plants rejected the pact. But a swing in voting results in favor of the deal, specifically at a SUV plant in Texas, gave the agreement a much needed lifeline. According to the UAW's vote tracker, the deal was supported by roughly 54% of the more than 34,700 autoworkers at GM who voted. Results are still outstanding at two smaller GM facilities representing about 1,400 hourly workers, but wouldn't be enough to offset the roughly 2,500-vote margin.

Persons: they've Organizations: DETROIT, General Motors, United Auto Workers, Detroit, GM, UAW, Ford Motor, Chrysler Locations: Texas

Circuit Court of Appeals threw out a 3-2 decision issued last year by the National Labor Relations Board, which had said Tesla couldn’t prohibit union attire. The court opinion noted that Tesla allowed workers to affix “any number or size” of pro-union stickers to company-issued clothing. “We may have concluded differently had Tesla prohibited union insignia," read the opinion issued Tuesday by a unanimous panel of three 5th Circuit judges. The opinion comes as the 5th Circuit prepares for arguments in another union-related matter involving Tesla, NLRB and the assembly plant in Fremont, California. But that order was vacated after the full 5th Circuit, currently with 16 full-time judges, voted to hear the matter.

Persons: Tesla, didn't, ”, Jerry Smith, Elon Musk, Musk, Smith, Ronald Reagan, Leslie Southwick, George W ., Stephen Higginson, Barack Obama Organizations: ORLEANS, United Auto Workers, U.S, Circuit, National Labor Relations Board, Associated Press, UAW, NLRB, Twitter Locations: California, Fremont , California

☆ GM rank and file ratify labor deal, ending threat of a renewed strike
▼ + stars: | 2023-11-16 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +5 min

The final results from all the UAW members at GM were posted on the union’s Web site Thursday morning. If workers had rejected the deal, it could have brought about a resumption of the strikes at the company. Neither the union nor any of the companies had any immediate comment on the vote results, the final vote at GM, or preliminary votes at the other two automakers. Teamster members voted 86% in favor of that union’s deal with UPS in July. Others said that the union could achieve even better deals if members voted no.

Persons: Mack Truck, Mack Trucks, Shawn Fain, Fain Organizations: New, New York CNN, United Auto Workers, General Motors, UAW, GM, Ford, Jeep, Dodge, Chrysler, Teamster, UPS, Kaiser Permanente, Facebook Locations: New York, Arlington , Texas, Lansing Delta, Michigan

☆ Subaru to raise US wages after UAW deals with Detroit Three -CEO
▼ + stars: | 2023-11-16 | by ( Abhirup Roy | ) www.reuters.com time to read: +2 min

Atsushi Osaki, President and CEO at Subaru, speaks during the press day preview of the Los Angeles Auto Show in Los Angeles, California, U.S. November 16, 2023. REUTERS/David Swanson/File Photo Acquire Licensing RightsLOS ANGELES, Nov 16 (Reuters) - Subaru (7270.T) will raise the wages of its U.S. plant workers in light of recent labor deals reached by the Detroit Three automakers and United Auto Workers (UAW), the Japanese automaker's CEO, Atsushi Osaki, told Reuters on Thursday. Non-union automakers that have raised wages for their U.S. plant workers after the UAW deals include Japan's Toyota (7203.T) and Honda (7267.T), and South Korea's Hyundai (005380.KS). UAW President Shawn Fain has said "UAW" stands for "U are welcome" in response to the rising wages at the non-union plants. Reporting by Abhirup Roy in Los Angeles; Writing by Ben Klayman; Editing by Chris Reese, Andrea Ricci and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Atsushi Osaki, David Swanson, Osaki, Joe Biden, Shawn Fain, Abhirup Roy, Ben Klayman, Chris Reese, Andrea Ricci, William Mallard Organizations: Subaru, Los Angeles Auto, REUTERS, Detroit Three, United Auto Workers, UAW, Reuters, General Motors, Ford, Chrysler, Los, Detroit, Toyota, Honda, Hyundai, Thomson Locations: Los Angeles , California, U.S, Lafayette , Indiana, Los Angeles, South

☆ Auto strikes sink US manufacturing output in October
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

Manufacturing output fell 0.7% last month, the Federal Reserve said on Thursday. Excluding motor vehicles and parts, manufacturing production edged up 0.1%. Overall industrial production dropped 0.6% in October after edging up 0.1% in September. It is now eight-tenths of a percentage point below to its 1972–2022 average. The operating rate for the manufacturing sector slipped to 77.2% from 77.8% in the prior month and is one percentage point below its long-run average.

Persons: Rebecca Cook, Detroit's, Lucia Mutikani, Paul Simao Organizations: United Auto Workers, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, Rights, UAW, Federal Reserve, Reuters, General Motors, Ford, Chrysler, Utilities, Thomson Locations: Wayne , Michigan, U.S

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook//File Photo Acquire Licensing RightsDETROIT, Nov 16 (Reuters) - General Motors' (GM.N) tentative labor deal with the United Auto Workers (UAW) union has clinched ratification, making its workers the first of those at the Detroit Three automakers to approve the agreement. The UAW's GM vote tracking site shows approval of the contract leading by a 55% to 45% margin with nearly 36,000 workers having cast votes out of about 46,000 UAW-represented GM workers. Currently, about 67% of Ford workers who have voted are in favor of the UAW deal, and about 66% of Stellantis workers have so far voted in favor, according to UAW figures. Ford voting is scheduled to finish on Friday, while Stellantis is set to close next Tuesday.

Persons: Rebecca Cook, Stellantis, Tesla, David Shepardson, Ben Klayman, Lisa Shumaker Organizations: General Motors, REUTERS, Rights DETROIT, United Auto Workers, UAW, Detroit Three, Ford, Chrysler, GM, Detroit, Thomson Locations: Detroit , Michigan, U.S, Arlington , Texas, Detroit, Fairfax , Kansas, Orion , Michigan, Michigan, Washington

☆ UAW members ratify labor deal with Mack Trucks
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] The logo of Mack Trucks is seen on a truck in a yard in Mejicanos, El Salvador, August 16, 2018. REUTERS/Jose Cabezas Acquire Licensing RightsNov 16 (Reuters) - The United Auto Workers (UAW) union said on Wednesday that about 3,900 of its members working at Mack Trucks ratified a new five-year contract, ending a month-long strike at the Volvo Group (VOLVb.ST)-owned company. "After 39 days on strike, UAW members at Mack Trucks have voted by 93% to ratify their new contract with significant local improvements," the union said in a post on messaging platform X, previously known as Twitter. Mack Trucks said the new contract covered its employees at facilities in Pennsylvania, Maryland and Florida. Mack Trucks, which was bought by Volvo in 2000, is one of North America's largest makers of medium-duty and heavy-duty trucks.

Persons: Mack Trucks, Jose Cabezas, Maria Ponnezhath, Shubham Kalia, Mrinmay Dey, Gokul Pisharody, Baranjot Kaur, Varun, Anil D'Silva Organizations: REUTERS, United Auto Workers, UAW, Mack, Volvo Group, Twitter, Detroit's Big, General Motors, Ford, Volvo, Thomson Locations: Mejicanos, El Salvador, Pennsylvania , Maryland, Florida, North, Bengaluru

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