Stock market quotes, forex, financial news, forex tools –

General Motors employees start a national strike

 Breaking News
  • Microsoft, Amazon and eBay are at record highs On Tuesday, securities of Microsoft Corp, Inc and eBay Inc broke records. The rush of investors’ demand for the shares of those companies involved in electronic commerce caused such...
  • Quarantine in Hong Kong is not for everyone Hong Kong is rescuing its stock exchange. In order to give life to the trading platform, the administration of the metropolis has shown flexibility concerning quarantine measures. So, Christopher Hui...
  • Economy of Japan demonstrates recession In the first quarter of this year, the economy of the Land of the Rising Sun dropped by 0.6% in monthly terms. The figures are not optimistic but are better...
  • Energy market news On Saturday, representatives of the countries included in the OPEC+ cartel managed to agree on the extension of the restrictions on oil production. It also became known that those countries...
  • Bentley fires employees in order to prevent losses in 2020 The Bentley brand has long been synonymous with luxury living. Unfortunately, the British automaker has to save because of a forced two-month break. The company’s CEO Adrian Hallmark said to...
General Motors employees start a national strike
September 18
09:00 2019

It became known that workers at General Motors had started a full-scale strike on Monday. There hasn’t been a similar strike for about ten years. A peculiar record has been broken – this is the largest event held by the trade union of the automotive industry.

The trade union leaders decided to go on strike due to difficult negotiations over the extension of 4-year contracts with the company.  31 plants and 46 thousand workers have taken part in the strike. All of them were instructed to stay home that day or to leave their jobs.

A total of 49 thousand people participated in the strike. 33 production facilities in 9 different states were closed. 22 warehouses suspended their production.

The union and GM have been fighting a real war since four plants were closed in November. The union seeks to increase wages for workers, get job security and benefits during the periods of cost reduction.

A representative of the UAW Terri Ditta notes that the strike is an extreme measure, however, one cannot do without it. “We have been negotiating with GM for a long time. It is very important for us that workers have a decent wage and can count on quality medical care,” said the union leader.

In response to the measures taken by the union, General Motors leaders have announced that they are ready to increase workers’ wages and invest about $ 7 billion in factories, which will create additional 5.4 thousand jobs.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment