Key Takeaways
- The UAW expanded its stand up strike to 7,000 members at GM and Ford facilities on Friday, citing a lack of "meaningful progress" with the two companies.
- Stellantis was not included in the expansion as the union reported making progress in negotiations with the automaker.
- UAW called upon approximately 25,000 members to stop working at midday.
The United Auto Workers (UAW) expanded its strike against General Motors (GM) and Ford (F), but not Stellantis (STLA), citing progress in negotiations right before Friday's deadline.
The UAW said it would extend its ongoing strike to 7,000 more workers at GM and Ford facilities at noon on Friday. Around 25,000 union members were called on to stop working in the UAW 澳洲幸运5官方开奖结果体彩网:stand up strike as of Friday.
"Sadly, despite our willingness to bargain Ford and GM have refused to make meaningful progress at the table," UAW president Shawn Fain said in a livestream.
"To be clear, negotiations haven't broke down. We're still talking with all three companies," Fain noted.
Stellantis was spared from the strike expansion as the company "made significant progress," according to Fain. This progress reportedly included the cost of living allowance (COLA), a major facet of the union's demands.
Last week, Ford was excluded from an earlier expansi🍨on of the st♌rike, but was not granted the same reprieve Friday.
While the total cost of the UAW's ongoing strike to the Big Three's operations has yet to be determined, Anderson Economic Group estimates economic losses from the strike totaling over $1.6 billion in the first week alone.
On Tuesday, Ford had paused wor🥃k on its $3.5 billion electr🔯ic vehicle battery plant, saying it wasn't confident of its ability to competitively operate the plant. The announcement comes amid concerns that the costs incurred throughout the strike could 🧔also make it more difficult for the Big Three to make the transition to EVs.
This week, President Joe Biden and former President Donald Trump visited UAW members on the picket lines, as the outcome of the strike could have a sizable impact on the U.S. economy.
Shares of Ford and GM were little changed🀅 in intraday trading on Friday, up 0.2% as of 11:40 a.m. ET, 📖while shares of Stellantis were 0.1% lower.