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☆ The US economy added 150,000 jobs last month. Here’s what that means
▼ + stars: | 2023-11-03 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN —For several months now, the US labor market has been on a cooling trajectory, and Friday’s jobs report made that even more apparent. The US economy added 150,000 jobs last month, falling below expectations but still notching a solid month of employment growth, according to Bureau of Labor Statistics data released Friday. October’s job growth came in below September’s stronger-than expected but downwardly revised total of 297,000 jobs. Including the estimated 150,000 jobs added last month and the downward revisions to August and September that totaled 101,000 jobs, the United States is averaging 239,000 jobs gained per month so far this year. Where the jobs were — and weren’tBecause of the timing of the striking actions and how the BLS tracks such activity, October is the first jobs report that reflects the massive strike.

Persons: ”, Sung Won Sohn, Nancy Vanden Houten, Jerome Powell, Gus Faucher, Dante DeAntonio, ” DeAntonio, “ It’s, ” Ger Doyle, ManpowerGroup, Amy Glaser, we’ve, “ We’re Organizations: Minneapolis CNN —, of Labor Statistics, SS Economics, Loyola Marymount University, United Auto Workers, Ford, General Motors, UAW, Big, Federal Reserve, Fed, Oxford Economics, BLS, PNC Financial Services, Government, Moody’s, ”, CNN, “ Locations: Minneapolis, United States, Southern California

☆ US job growth probably slowed in October due to UAW strike
▼ + stars: | 2023-11-03 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The anticipated moderation in employment growth last month would also be pay back after September's enormous gains, the largest in eight months. The Labor Department's closely watched employment report on Friday is expected to show labor market conditions steadily easing, with annual wage growth the smallest in nearly 2-1/2 years and significant growth in the supply of workers. Manufacturing payrolls are forecast falling 10,000 after advancing 17,000 in September. Last week, the BLS reported at least 30,000 UAW members were on strike during the period it surveyed businesses for October's employment report. Wages gains would still be above the 3.5% that economists say is consistent with the Fed's 2% target.

Persons: Brian Snyder, Detroit's, Sam Bullard, payrolls, Veronica Clark, we've, Sung Won Sohn, we're, Brian Bethune, that's, Lucia Mutikani, David Gregorio Our Organizations: Taylor Party, Equipment Rentals, REUTERS, UAW, United Auto Workers, Labor, Federal Reserve, Labor Department's Bureau of Labor Statistics, Manufacturing, BLS, Citigroup, UPS, Finance, Loyola Marymount University, Boston College, Thomson Locations: Somerville , Massachusetts, U.S, WASHINGTON, Wells, Charlotte , North Carolina, New York, Los Angeles

☆ How the UAW's drive to 'end tiers' will change GM
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +3 min

The tentative 4-1/2 year deal will pull more than 7,000 UAW workers in GM component plants, service parts warehouses and what GM calls "subsystems" operations up to the higher wage levels paid to assembly plant workers. As at Ford and Stellantis, GM will raise pay for temporary workers and give them a faster path to full-time status and wages. Eliminating tiers of lower-paid UAW workers at the Detroit Three was a top priority for Fain and UAW bargainers. Fain and UAW members would often wear red t-shirts printed with the slogan "End Tiers" at rallies and on picket lines. GM "has been the worst actor" in creating tiers of lower-wage UAW employees within its operations, Booth said in an Oct. 20 video address.

Persons: Shawn Fain, Rebecca Cook, Shawn Fain's, Fain, Mike Booth, Booth, Joe White, Peter Henderson, Josie Kao Organizations: United Auto Workers, REUTERS, Rights DETROIT, General Motors, UAW, GM, Workers, Holdings, Ford, Tesla, Detroit, automaker . Workers, Thomson Locations: Detroit , Michigan, U.S, , Ohio, Stellantis .

☆ The UAW Beat Detroit. Tesla Will Be a Different Beast.
▼ + stars: | 2023-11-02 | by ( Tim Higgins | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones Organizations: uaw, detroit

☆ First UAW vote at Ford is overwhelmingly in favor ratifying deal
▼ + stars: | 2023-11-02 | by ( Manav Tanneeru | Chris Isidore | ) edition.cnn.com time to read: +2 min

The UAW members in this first vote work at the Michigan Assembly Plant in Wayne, Michigan. There are about 4,800 UAW members at the plant, and nearly 4,000 of those were either on strike or laid-off by the company during the work stoppage. Nearly 4,000 UAW members went on strike October 8 after members rejected an 11th-hour deal reached a week before that appeared to have averted a strike. The Michigan Assembly plant was the first Ford factory to go on strike on September 15, so the workers there lost more paychecks than any other union members at Ford. In total, there are 36 different locals at Ford — 35 still have to vote.

Persons: Mack Trucks, Ford Organizations: New, New York CNN, United Auto Workers, Ford, UAW, Michigan, Plant, General Motors, Michigan Assembly, Ford — Locations: New York, Wayne , Michigan, Wayne, Michigan

He said the UAW's new contracts were so good they had even led to nonunion auto workers getting raises. Honda (7267.T) told Reuters it was evaluating the recent UAW deals with the Detroit Three automakers and would remain competitive. "If (Toyota workers) come calling, which they have, we're going to educate them and be there for them," Smith told Reuters. Toyota's move earlier this week to raise wages is in line with the strategy the Japanese automaker and other nonunion automakers have used to keep UAW organizers at bay. Nonunion automakers have kept hourly wages close to the UAW rates at the Detroit Three.

Persons: Shawn Fain, Fain, It'll, Tim Smith, Smith, Elon Musk, Toyota's, Joseph White, David Shepardson, Lisa Baertlein, Ben Klayman, Matthew Lewis, Jamie Freed Organizations: DETROIT, United Auto Workers, Detroit, Toyota, UAW, nonunion, Honda, Reuters, Detroit Three, General Motors, Ford, Louisville Assembly, GM, National Labor Relations Board, NLRB, Tesla, Thomson Locations: WASHINGTON, U.S, United States, Georgetown , Kentucky, Louisville, Tesla's Fremont , California, Fremont, Detroit, Washington, Los Angeles

☆ Stellantis to give big raises, invest billions in UAW deal
▼ + stars: | 2023-11-02 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Stellantis declined to comment, saying it would wait for workers to vote first before discussing the deal. Stellantis will also offer $50,000 buyouts in 2024 and 2026 to UAW production workers, allowing it to cut costs by hiring fresh workers who start at lower wages. The UAW said the Stellantis investment commitments total about $19 billion, but that includes some previously announced plans. Stellantis has slightly longer than rival Ford to convert current temporary workers to permanent employees. That is on top of the $5,000 bonus hourly workers will get on ratification along with an 11% immediate pay hike.

Persons: Shawn Fain, Joe Biden, Stellantis, Ford, David Shepardson, Paul Lienert, Chris Reese, Diane Craft, Jamie Freed Organizations: United Auto Workers, UAW, Chrysler, U.S, Ford, Toledo Jeep, EV, Dodge, Jeep, General Motors, Thomson Locations: Belleville, Wayne County , Michigan, U.S, Illinois, Belvidere , Illinois, Belvidere, Toledo, Michigan, Detroit, Dodge Durango, North America, Washington

☆ Some Tesla workers say they'd never work in a unionized factory, even as Ford and GM workers are set to get a major pay boost
▼ + stars: | 2023-11-02 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

While Elon Musk has spoken out against unions, a major Tesla factory reportedly has a UAW organizing committee that's speaking with workers. Some Tesla workers say they wouldn't join a unionized company and predicted the UAW would struggle to find footing at Tesla. AdvertisementAdvertisementThe United Auto Workers might have set its sights on Tesla, but some workers at the EV company told Insider they'd be hard-pressed to join a union. Even before the 36-day strike, Ford and GM already spent over $20 more per hour on factory workers than Tesla, according to analysts. Still, other workers told Insider they wouldn't jump ship even for a better pay package at a unionized company.

Persons: Elon Musk, —, Shawn Fain, Tesla, Musk, they'd, Metall, Marquard, it's, you've, Fain, Elon Organizations: UAW, Tesla, Service, United Auto Workers, EV, Detroit automakers, Ford, General Motors, GM, Fremont, Elon Musk's, National Labor Relations Board, Buffalo New, NLRB, Bloomberg, Workers Locations: Fremont, California, Buffalo New York, rehire, company's Brandenburg, Tesla, Tesla's

DETROIT (AP) — Autoworkers at the first Ford factory to go on strike have voted overwhelmingly in favor of a tentative contract agreement reached with the company. About 3,300 United Auto Workers union members went on strike at the plant Sept. 15 after the union's contract with Ford expired. They remained on the picket lines until Oct. 25, when the union announced the tentative deal with Ford. Production workers voted 81% to ratify the deal, while skilled trades workers voted 90% in favor. At its peak 46,000 union members had gone on strike at eight assembly plants and 38 parts warehouses across the nation.

Persons: — Autoworkers, Shawn Fain, Rich Boyer, Fain, Boyer, ”, “, ” Masters Organizations: DETROIT, Ford, Michigan, Plant, United Auto Workers, Ford ., Local, UAW, General Motors, GM, Wayne State University, . Workers, Detroit Locations: Wayne , Michigan, Detroit

☆ US job openings stay elevated, layoffs hit nine-month low
▼ + stars: | 2023-11-01 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The Job Openings and Labor Turnover Survey, or JOLTS report from the Labor Department on Wednesday also showed layoffs dropping to a nine-month low. There were 1.50 job openings for every unemployed person in September, slightly up from 1.49 in August and way above the pre-pandemic ratio of 1.2. Data for August was revised lower to show 9.497 million job openings instead of the previously reported 9.610 million. Economists polled by Reuters had forecast 9.250 million job openings in September. Job openings dropped 43,000 in federal government and there were 41,000 open positions in the information industry.

Persons: Christopher Rupkey, Conrad DeQuadros, Lucia Mutikani, Chizu Organizations: Federal Reserve, Labor, Survey, Labor Department, Treasury, Reuters, Brean, Institute for Supply Management, United Auto Workers, UAW, Detroit's Big, Ford Motor, General Motors, Chrysler, Thomson Locations: WASHINGTON, U.S, New York

☆ Here are Wednesday's biggest analyst calls: Apple, Meta, Boeing, AMD, Carvana, Ford, Robinhood & more
▼ + stars: | 2023-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Advanced Micro Devices as buy UBS said it's standing by its buy rating on the chipmaker after its earnings report on Tuesday. Goldman Sachs downgrades ZoomInfo Technologies as buy Goldman downgraded the stock after its "mixed" earnings report citing lower visibility. UBS upgrades JD.com to buy from neutral UBS said shares of the Chinese retailer are attractive. " UBS reiterates Apple as neutral UBS said its checks show Apple's iPhone wait times are lower. TD Cowen reiterates Carvana as market perform TD said it's cautious heading into the used car company's earnings report on Thursday.

Persons: it's, TD Cowen, Piper Sandler, Piper, Polestar, Goldman Sachs, Goldman, Morgan Stanley, Bernstein, Price, Cantor Fitzgerald, VinFast, Cantor, it's bullish, JD, Mizuho, Robinhood, HOOD, Carvana Organizations: UBS, Devices, EV, Technologies, Bank of America, of America, UAW, Barclays, Ford, General Motors, Meta, JPMorgan, Boeing, Goldman, NRG Energy, Guggenheim, Management, Clear Messaging, Deutsche Bank, Deutsche, Apple, BP, UW Locations: Asia, Europe, North America

☆ The UAW won big against Detroit automakers. Unionizing Tesla and Toyota will be tougher
▼ + stars: | 2023-11-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +11 min

But the UAW’s ambitious plans to organize Tesla and other non-union automakers face steep odds. To grow, the UAW will need to gain a foothold at non-union automakers, which produce more than half of the cars assembled in the United States. Historically, UAW talks with the Detroit automakers have been closely watched by non-union automakers and suppliers. Anti-union companiesThe UAW will have to overcome weak protections for labor organizing in the United States and automakers’ aggressive tactics to defeat unions. It may be easier for UAW to organize Volkswagen and other European automakers like BMW and Mercedes-Benz than automakers from Asia, experts say.

Persons: Tesla, Shawn Fain, ”, Harry Katz, “, Thomas Kochan, Tesla's, Justin Sullivan, Bill Lee, Nikki Haley, Joe Biden, Kochan, ” Kochan, “ There’s, “ Fain, he’s, Harley Shaiken, Jesse Jackson, John J, Kim, Elon Musk, Musk, “ Tesla, ” Shaiken, Biden, Erica Smiley, Smiley, ‘ we’ve, won’t Organizations: New, New York CNN, United Auto Workers, Ford, General Motors, Jeep, Chrysler, Detroit automakers, UAW, American, Toyota, Hyundai, Honda, Volvo, Mercedes, BMW, Nissan, Volkswagen, Cornell University’s School of Industrial and Labor Relations, Labor, Companies, Employers, National Labor Relations Act, MIT Sloan School of Management, Getty, Workers, Benz, Tennessee Gov, Former South Carolina Gov, Environmental Defense Fund, Alabama, M University, Jackson State University, University of California, Berkley, Chicago Tribune, Tribune, Service, Tesla, National Labor Relations Board, Employees, Bloomberg, CNN, Biden Union, Union, Biden, Justice, Detroit Locations: New York, United States, California, Texas, Tesla's Fremont , California, Tennessee, Kentucky, Alabama, Volkswagen’s, Chattanooga, Michigan, Detroit, Chicago, Chattanooga , Tennessee, Asia, Europe, Tesla’s Fremont California, ”

☆ Toyota hikes wage of US factory workers after UAW labor deals
▼ + stars: | 2023-11-01 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

Other nonunion logistics and service parts employees are getting wage hikes. The media and organizing project Labor Notes earlier reported the wage hikes and other details, citing a company document. The pay of production Toyota workers in Kentucky at top scale will rise by $2.94 to $34.80 an hour. Under the new tentative agreements with General Motors (GM.N), Ford Motor (F.N) and Stellantis (STLAM.MI), UAW workers will receive a wage hike of 11% upon ratification and 25% in wage hikes through April 2028. The UAW declined to comment on the Toyota wage hikes.

Persons: Johanna Geron, ” Chris Reynolds, Shawn Fain, Fain, David Shepardson, Chizu Nomiyama, Matthew Lewis Organizations: Toyota, REUTERS, United Auto Workers, Detroit Three, Labor, North, General Motors, Ford Motor, UAW, Ford, Volkswagen, Nissan, Detroit, Thomson Locations: Zaventem, Belgium, U.S, Kentucky, Washington

☆ Jeep Maker Stellantis Says It Lost $3 Billion of Revenue Due to UAW Strike
▼ + stars: | 2023-10-31 | by ( David Sachs | ) www.wsj.com time to read: 1 min

The United Auto Workers union said it reached a tentative deal with Stellantis on Saturday, six weeks after workers went on strike. Earlier this week, Ford also reached a tentative agreement with the UAW. Photos: Emily Elconin/Bloomberg NewsChrysler parent Stellantis said the strike by U.S. auto workers had cost it more than $3 billion in lost revenue as it reported a rise in quarterly sales. The update from Stellantis, which also makes the Jeep and Dodge brands, is the latest indication of the financial fallout from a six-week strike that put 45,000 workers on the picket lines.

Persons: Stellantis, Ford, Emily Elconin Organizations: United Auto Workers, UAW, Bloomberg News Chrysler, U.S, Jeep, Dodge

☆ Three Young Activists Who Never Worked in an Auto Factory Helped Deliver Huge Win for the UAW
▼ + stars: | 2023-10-31 | by ( Nora Eckert | Mike Colias | ) www.wsj.com time to read: 1 min

In hard-nosed negotiations, the United Auto Workers in recent weeks shocked Detroit automakers with public swipes at CEO pay, a renewed focus on the rank-and-file and a bold plan for sudden strikes. The aggressive strategy was driven by a band of young outsiders—who have never clocked in a day of work at an auto factory. The three 30-something labor activists were brought in by new UAW President Shawn Fain to remake the union into a more independent, media savvy and creative challenger to car companies.

Persons: —, Shawn Fain Organizations: United Auto Workers, Detroit

☆ Winners and losers of the UAW talks with GM, Ford and Stellantis
▼ + stars: | 2023-10-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

UAW President Shawn Fain warned of a more combative union heading into the talks, but not many, if anyone, expected the union to strategically outmaneuver the companies like it did, leading to record deals for 146,000 UAW members with GM, Ford Motor and Stellantis . UAW members must still vote to ratify the tentative agreements. 1, of course, are the UAW members," said Art Wheaton, a labor professor at The Worker Institute at Cornell University. Some winners, some losers: UAW membersBroadly speaking, the UAW members covered by the new deals are winners, however not everyone faced the financial toll of the union's strikes against the Detroit automakers. They may also be targets of increased organizing efforts by members seeking better wages like those for UAW members.

Persons: Joe Biden, Shawn Fain, Evelyn Hockstein, General Motors, Fain, Tesla, Wheaton, Shawn Fain Fain, they've, Marick, It's, Ford, John Lawler, Masters, I'm, Biden Organizations: United Auto Workers, Reuters DETROIT, General, Detroit, UAW, GM, Ford Motor, Worker Institute, Cornell University, Wayne State University, Ford, Deutsche Bank, Finance, Detroit automakers, Toyota, Hyundai, EVs Locations: Bellville , Michigan, U.S, Detroit, Michigan

☆ Here's an update on 10 of our companies that reported earnings and how we feel about each stock
▼ + stars: | 2023-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

GOOGL YTD mountain Alphabet YTD Alphabet (GOOGL): The quarter from the Google parent was mixed . On one hand, we were pleased to see revenue growth acceleration and beats at Search and YouTube. For Alphabet to catch up in the AI race, it might be forced to invest more aggressively, creating an imbalance between revenue growth and expense growth. AMZN YTD mountain Amazon YTD Amazon (AMZN): This was a fantastic quarter that checked a lot of boxes for us. While AWS cloud revenue growth may not have accelerated as some optimistic bulls had hoped for, it stabilized.

Persons: Jim Cramer's, Here's, inflect, We're, Mark Zuckerberg's, Danaher, Ford, Decker YTD Stanley Black, Decker, Jim Cramer, Jim, Benoit Tessier Organizations: Jim Cramer's Charitable, CNBC, Sciences, Microsoft, Google, Web Services, LIN, Linde, Honeywell, Aerospace, Technologies, Materials, Productivity Solutions, Ford, UAW, Meta, Inc, Viva Technology, Porte de Locations: China, North America, breakeven, Porte, Paris

☆ UAW strikes cost Stellantis about $3.2 billion in revenue
▼ + stars: | 2023-10-31 | by ( Michael Wayland | ) www.cnbc.com time to read: +2 min

DETROIT — Labor strikes by the United Auto Workers union cost Stellantis about $3.2 billion, or 3 billion euros, in lost revenue through October, the company reported Tuesday. UAW workers began roughly six weeks of targeted U.S. strikes against Stellantis, General Motors and Ford Motor on Sept. 15. Ford said the UAW strike cost it $1.3 billion in earnings before interest and taxes, including roughly $100 million during the third quarter. Despite the labor strikes, Stellantis maintained its 2023 guidance, signaling the strength of its global footprint compared to its main U.S.-based competitors. Stellantis' guidance includes double-digit adjusted operating income margin, positive industrial-free cash flows and completion of $1.6 billion, or 1.5 billion euros, in share buybacks.

Persons: Stellantis, Natalie Knight, Ford Organizations: United Auto Workers, DETROIT — Labor, UAW, Stellantis, General Motors, Ford, North, GM, CNBC Locations: Sterling Heights , Michigan, U.S

☆ Union workers ‘are catching up’ on pay as labor organizing surges
▼ + stars: | 2023-10-31 | by ( Jared Mitovich | ) www.cnbc.com time to read: +2 min

While predictions across the board about employee pay are forecasting slower wage growth next year, there's a notable exception: union workers, especially those in service and manufacturing roles. Compensation for union workers is up just 11% since the first quarter of 2020, compared with 14.6% for nonunion workers, according to Bureau of Labor Statistics data from the second quarter of 2023. The rise in pay growth for unionized employees this year stems, in part, from significant labor action, including a string of labor deals resulting in higher pay. Many unionized workers, for example, haven't negotiated a new contract since the Covid-19 pandemic began. "Unionized workers couldn't see the same scale of wage increases over the past few years that non-unionized workers did," said Aaron Terrazas, Glassdoor's chief economist.

Persons: there's, haven't, Aaron Terrazas Organizations: of Labor Statistics, Finance, United Auto Workers, Ford Motor Company, General Motors, Ford, UAW

☆ Listen now: Tunnel warfare and other top stories
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: 1 min

Listen on the Reuters app. Plus, what the UAW deal could mean for future labor relations and the top Halloween trends. Listen to our special episode on Hamas' tunnels here. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. Further ReadingIsrael engages Hamas militants inside Gaza's tunnelsUAW reaches deal with GM, ending strike against Detroit automakersUS officials, Jewish leaders meet to address antisemitism on campusOur Standards: The Thomson Reuters Trust Principles.

Organizations: Apple, Google, Reuters, UAW, Thomson, Reading, GM, Detroit Locations: Israel, Gaza

Customers might assume that nonunion automakers, like Toyota, Tesla or Hyundai-Kia, will now be able to price their vehicles well below what the Detroit automakers can. “When the dust settles from this UAW debacle, the Detroit auto stalwarts find themselves with a bigger cost profile with competition increasing," said Dan Ives, an analyst at Wedbush. That means that competition for buyers is intensifying as pent-up demand from the pandemic wanes, making it difficult for any automaker to raise prices. But if the Detroit companies report lower income, Wall Street will register its disappointment, and stock prices could fall. “You either raise your labor costs to meet what the UAW is getting or you risk the unionization drive.”

Persons: Stellantis, ”, Jonathan Smoke, pare, Dan Ives, Natalie Knight, Ram, Knight, Smoke, Shawn Fain, Fain, Art Wheaton, wouldn’t, Wheaton, Tesla, ” Wheaton Organizations: DETROIT, United Auto Workers, Detroit’s, General Motors, Ford, Toyota, Hyundai, Kia, Detroit, GM, Cox Automotive, UAW, Chrysler, Jeep, Cox, automakers, Detroit automakers, Cornell University, U.S Locations: United States, U.S, Stellantis, Detroit

☆ The UAW strike is over after 46 days. Here are the details of their contract that will leave some workers making up to $42 an hour.
▼ + stars: | 2023-10-31 | by ( Nora Naughton | Associated Press | ) www.businessinsider.com time to read: +6 min

The historic United Auto Workers strike is over. The UAW announced Monday evening it had reached a tentative agreement with GM, the last of the Detroit car companies to complete negotiations. The 25% pay increases by April 2028 agreed to in the new contracts raise top pay to about $42 an hour, according to the union. For historical comparison, the union said its workers saw pay increases of 23% for all the years from 2001 through 2022. Ford was the first to notch a tentative agreement with the union on Oct. 25 after employees spent 41 days on strike.

Persons: —, Ford, Jim Farley, Mary Barra, Fain, Stellantis Organizations: United Auto Workers, GM, Detroit, Service, Big Three Detroit, UAW, Local UAW, Ford, Workers, Ultium, LG Energy, Big Locations: Detroit, U.S, Michigan, Korea

☆ UAW strike cost Stellantis $3 billion in lost revenue
▼ + stars: | 2023-10-31 | by ( Hanna Ziady | ) edition.cnn.com time to read: +1 min

London CNN —Historic strikes by autoworkers in North America have cost Stellantis €3 billion ($3.2 billion) in lost revenue, the maker of Chrysler and Jeep said Tuesday. Earlier this month, General Motors (GM) said walkouts by its workers had cost the company $200 million in their first two weeks. Stellantis (STLA) still reported better-than-expected revenue for the July-September period, up 7% on the same quarter in 2022 at €45.1 billion ($48 billion). The UAW has hailed the deal that ended the prolonged walkouts at Stellantis as a major victory. Separately, Stellantis reached an agreement with Canadian union Unifor Monday, hours after a strike began there.

Persons: Stellantis Organizations: London CNN —, Chrysler, Jeep, United Auto Workers union, UAW, General Motors, €, Electric Locations: North America, Stellantis, Illinois, Milan, —

☆ GM, UAW Reach Tentative Labor Deal to End Strike
▼ + stars: | 2023-10-30 | by ( Ryan Felton | ) www.wsj.com time to read: 1 min

The UAW’s accord with GM follows tentative agreements with Ford and Stellantis and is expected to bring the union’s historic walkout that sent more than 45,000 workers to the picket lines to a close . Photo: James Breeden/ReutersGeneral Motors became the last of the Detroit automakers to reach a new tentative labor deal with the United Auto Workers union Monday to end a strike that has spanned more than six weeks, according to people familiar with the talks. This latest accord follows tentative agreements struck last week with Ford Motor and Chrysler-parent Stellantis and is expected to bring the union’s historic walkout that sent more than 45,000 workers to the picket lines at nine U.S. factories and dozens of parts-distribution centers to a close.

Persons: James Breeden Organizations: GM, Ford, Reuters General Motors, Detroit automakers, United Auto Workers, Ford Motor, Chrysler

☆ Detroit Is Paying Up to End the UAW Strike. Now Carmakers Will Live With the Costs.
▼ + stars: | 2023-10-30 | by ( Mike Colias | ) www.wsj.com time to read: 1 min

The United Auto Workers union said it reached a tentative deal with Stellantis on Saturday, six weeks after workers went on strike. Earlier this week, Ford also reached a tentative agreement with the UAW. Photos: Emily Elconin/Bloomberg NewsThe end of the United Auto Workers strikes against Ford Motor and Chrysler-parent Stellantis offered some relief in Detroit after a bruising six-week labor showdown. But the car companies aren’t in a celebratory mood. The details of the UAW’s tentative labor pacts with Ford and Stellantis, reached in recent days, show that the automakers’ labor-cost disadvantage to rivals such as Toyota and Tesla is about to get worse, just as many aspects of their growth plans get cloudier.

Persons: Stellantis, Ford, Emily Elconin Organizations: United Auto Workers, UAW, Bloomberg, Ford Motor, Chrysler, Ford, Toyota, Tesla Locations: Detroit

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