US Markets
Friday, September 15th, 2023 6:58 pm EDT
Key Points
- Nearly 13,000 autoworkers went on strike after the UAW and the Big Three automakers, General Motors, Ford Motor and Stellantis, ended talks without a contract agreement Thursday night.
- Biden said he is dispatching acting Labor Secretary Julie Su and White House senior advisor Gene Sperling to Detroit to help mediate negotiations.
- “The companies have made some significant offers,” Biden said. “But I believe they should go further to ensure record corporate profits mean record contracts for the UAW.”
President Joe Biden has urged auto companies to ensure that their record profits translate into record contracts for United Auto Workers (UAW) union members. Biden made the statement after nearly 13,000 autoworkers went on strike against General Motors, Ford Motor, and Stellantis. The strike began after contract talks ended without an agreement, and workers are demanding 40% hourly pay increases, a reduced 32-hour workweek, traditional pensions, the elimination of compensation tiers, and other benefits. Biden is sending acting Labor Secretary Julie Su and White House senior advisor Gene Sperling to help mediate the negotiations. The strike has put Biden in a difficult position, as he has branded himself as the most pro-union president but faces opposition from the UAW due to his electric vehicle policies, which the union says will cost jobs.
Read the full article here: https://www.cnbc.com/2023/09/15/biden-says-record-profits-should-ensure-record-contracts-as-uaw-strikes-ford-gm-and-stellantis-plants.html
