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11.10.2019

GM urges UAW to get a deal done and end strike

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General Motors is urging the United Auto Workers to agree to “around-the-clock” bargaining on all issues in an effort to reach an agreement and end the union’s strike against the automaker.

Nearly 50,000 GM employees head out to picket lines for nearly a month already

Stocks impacted: General Motors Co. (GM)

Nearly 50,000 GM employees head out to picket lines for the 26th day on Friday. The work stoppage caused not only costs over $1 billion, but also forced the company to idle U.S. operations along with nearly 10,000 workers in Canada and Mexico. UAW workers are concerned that as General Motors shifts its focus to electric vehicles it will require fewer workers, and battery production may result in workers getting paid less. On Thursday, GM stocks finished 1.52% higher on hopes for resolving the issue.

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