TECH - Jim Cramer Warns Ford Could Impose Lockout As UAW Strike Enters Day 4: 'Playing With Fire' | Benzinga
As the ongoing strike by United Auto Workers (UAW) enters its fourth day, Ford Motor Company (NYSE:F), with the most UAW members among Detroit’s Big Three automakers, may resort to a lockout, warns CNBC’s Jim Cramer, CNBC reported.
Negotiations over a new labor agreement made little headway over the weekend. Cramer cautioned that UAW is “playing with fire” as Ford could become frustrated with union demands and lock out workers.
Last Friday, Ford temporarily laid off nearly 600 employees at its Michigan Assembly Plant, a result of the ripple effect caused by striking workers.
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The stalled negotiations occur as legacy players like Ford, GM, and Stellantis are racing to boost their electric vehicle production amidst a price war. Sales pressure and UAW demands could potentially force these automakers to consider moving certain operations to Mexico, a ...