UAW expands strike to GM plant in Texas as company says walkout costs $200 million a week
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About 30 percent of the union’s 15,000 workers at Detroit’s Big Three automakers are on strike.
About an hour before the UAW announcement, GM reported that its net income in the third quarter fell by about 7 percent from a year earlier, to $3.1 billion. The strike, which began Sept. 15, contributed to the drop and has cost the company about $800 million so far, GM executives said.
GM also cautioned that consumer demand for electric vehicles was slowing, and the company said it would remain flexible in producing gasoline-powered vehicles vs. EVs.
UAW President Shawn Fain said the union was hitting the Texas factory because GM’s latest offer to workers “fails to reward UAW members for the profits they’ve generated.”
GM, like Ford and Stellantis, is offering full-time workers a 23 percent wage increase over a 4½-year contract. But Fain said GM’s offer lags behind Ford on other matters, including 401(k) contributions and cost-of-living adjustments to wages.
“It is clear that GM can afford a record contract and do more to repair the harm done by years of falling real wages and declining standards across the Big Three,” Fain said in a statement.
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