(Reuters) - Ford Motor Chief Executive Jim Farley said Thursday the United Auto Workers union proposal to hike wages by 40%, cut workweeks and add new ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - Ford Motor Chief Executive Jim Farley said Thursday the United Auto Workers union proposal to hike wages by 40%, cut workweeks and add new pension benefits could bankrupt the company.
"You want us to choose bankruptcy over supporting our workers," Farley, in a CNBC interview, said of the UAW proposal. He said there are no current talks, and the automaker has received no counteroffer."Nothing is going on." Farley said if the UAW proposal had been in effect since 2019, instead of making about $30 billion in profits over four years, the company would have lost about $15 billion"and gone bankrupt by now."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ford CEO says UAW proposal could force bankruptcy'You want us to choose bankruptcy over supporting our workers,' Farley, in a CNBC interview, said of the UAW proposal. Farley said if the UAW proposal had been in effect since 2019, instead of making about $30 billion in profits over four years, the company would have lost about $15 billion 'and gone bankrupt by now.'
Read more »
Farley: Ford's latest offer to UAW is 'most generous' in 80 years; UAW may opt to strike targeted plantsThe UAW is considering initially targeting only specific plants for work stoppages at Detroit's Three automakers, sources told Reuters, adding the strike plan could still change.
Read more »
UAW president: lot of work remaining to reach auto labor deals(Reuters) - United Auto Workers (UAW) union President Shawn Fain said on Wednesday that progress is slow as talks continue with the Detroit Big Three ...
Read more »
UAW president: lot of work remaining to reach auto labor deals(Reuters) - United Auto Workers (UAW) union President Shawn Fain said on Wednesday that progress is slow as talks continue with the Detroit Big Three ...
Read more »
UAW president says union still seeking significant pay hikes as talks continue with automakersUAW President Shawn Fain said on Wednesday that slow progress is being made in talks, but that the ‘clock is ticking’
Read more »
Inflation rises, Apple's new devices, UAW strike looms: 3 ThingsThe Consumer Price Index rose in August, with the month-over-month core data coming in hotter than expected. It raises the question about what the Federal Reserve will do about interest rates given its focus on bringing inflation down. Apple (APPL) unveiled the iPhone 15 and Apple Watch series 9, but investors weren't exactly enthused with the new offerings, as China finally says it has not issued any ban on iPhones. The UAW negotiations with the Big Three automakers (F, GM, STLA) are ongoing as a strike deadline looms. Yahoo Finance Live brings you the three stories you need to be watching today.
Read more »