News

Latest News

Stocks in Play

Dividend Stocks

Breakout Stocks

Tech Insider

CAD Daily Briefing

US Markets

Stocks To Watch

The Week Ahead

SECTOR NEWS

Commodites

Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News

Newswires

OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Ford And GM Layoff More Workers Amid Ongoing Strike

U.S. automakers Ford (F) and General Motors (GM) have laid off another 450 workers as a strike by their largest union drags on.

Ford said it is laying off 330 workers at plants in Chicago, Illinois and Lima, Ohio. GM is laying off 120 employees in Parma, Ohio and Marion, Indiana.

The latest round of layoffs comes on top of thousands of job cuts already announced and arrives as a targeted strike by the United Auto Workers (UAW) enters its third week.

A deal between workers and management doesn’t appear likely anytime soon with the UAW demanding across the board pay raises of 40% and a return to traditional defined benefit pension plans.

The UAW has said that it submitted a revised offer to GM, but the details have not been made public. The union also said that it has begun a new round of talks with Chrysler-parent company Stellantis (STLA).

GM, Ford and Stellantis have laid off workers from factories not hit by the strikes because of disruptions to their supply chains.

The UAW expanded its strikes in recent days to target additional Ford and GM plants.

The UAW is threatening to continue expanding its job actions until a new collective agreement is reached with the Big Three Detroit automakers.

On October 1, the UAW reached an agreement with Volvo Group’s (VOLVF) Mack Trucks division that avoids another potential strike in the U.S.