UAW expands strike against Stellantis, hitting pickup truck plant
© Reuters. FILE PHOTO: The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo Fuentes/File Photo)'s largest assembly plant on Monday, hitting the automaker's profitable RAM 1500 pickup truck production in a major expansion of the more than month-old strike.
"Expanding it to the pickup trucks is really at the heart of what these companies produce," said Tim Ghriskey, a senior investment strategist at Ingalls & Snyder, which has owned auto stocks in the past. Those talks are complicated, because the ventures are separate companies and the automakers do not have to cover them under their master UAW contracts under U.S. labor law.
He said the Detroit Three had converged on a 23% wage hike offer and made progress on other issues but told UAW members"there is more to be won". GM and Ford say additional cost-of-living increases already take their total compensation offers to a hike of over 30%.
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