TECH - The UAW Strike Is Yet Another Sign Of Changing Times For Automakers | Benzinga
On Monday, General Motors (NYSE: GM) and Ford Motor (NYSE: F) revealed they will be laying off 500 workers from four of their Midwestern facilities as yet another consequence of the unprecedented UAW strike that kicked off on September 15th. Last week, Bloomberg reported that Tesla Inc (NASDAQ: TSLA) CEO Elon Musk stated that adhering to UAW’s demands would bring GM, Ford and Stellantis in the fast lane towards bankruptcy. But things are not all roses even for Tesla who missed Q3 delivery expectations also on Monday.
On Friday, the UAW struck GM's Lansing Delta Township facility that assembles the Buick Enclave and Chevrolet Traverse SUVs after previously striking at the Missouri assembly plant along with 18 parts distribution centers. Last week ended with the UAW President Shawn Fain expanding the first-ever simultaneous strike against the Detroit Three to a GM Lansing, Michigan plant and a Ford Chicago assembly plant. Stellantis (NYSE: STLA) was spared after last-minute concessions.
Layoffs
Ford will ...