DETROIT, Sept 15 (Reuters) - The United Auto Workers union launched simultaneous strikes at three factories owned by General Motors, Ford and Chrysler parent Stellantis on Friday, kicking off the most ambitious U.S. industrial labor action in decades.þþThe walkouts at the Detroit Three will halt production of the Ford Bronco, Jeep Wrangler and Chevrolet Colorado pickup truck, along with other popular models.þþÿFor the first time in our history we will strike all three of the Big Three,ÿ UAW President Shawn Fain said, adding that the union will hold off more costly company-wide strikes for now, but all options are open if new contracts are not agreed.þþFain laid out plans for the walkouts on Facebook Live, less than two hours before the expiration of the old contract.þþThe action caps weeks of clashes between Fain and Detroit Three executives over union demands for a bigger share of profits generated by combustion trucks, and stronger job security as automakers shift to electric vehicles.þþThe executives have said the union's asks would make the automakers uncompetitive against other non-union rivals. GM CEO Mary Barra told CNBC on Friday that the automaker will keep negotiating, even though she was ÿfrustrated and disappointedÿ with the strike, which would not be good for the industry.þþThe standoff has become a political issue, with President Joe Biden, who faces re-election next year, calling for a deal. Biden will address the strike later on Friday, the White House said.þþThe strikes involving a combined 12,700 workers will take place at assembly plants operated by Ford (F.N) in Wayne, Michigan, GM (GM.N) in Wentzville, Missouri and Stellantis' (STLAM.MI) Jeep brand in Toledo, Ohio. They are critical to the production of some of the automakers' most profitable vehicles.þþFriday's walkout was smaller than some analysts expected.þþÿThis is more of a symbolic strike than an actual damaging one,ÿ said Sam Fiorani, a production forecaster at Auto Forecast Solutions, who added that he had expected more in the first wave of the strike.þþÿIf the negotiations don't go in a direction that Fain thinks is positive, we can fully expect a larger strike coming in a week or two,ÿ he said.þþTargeted walkouts could limit the cost of strike pay to the UAW, which has a $825 million strike fund. This pales in comparison to billions the automakers have built up thanks to robust profits from the trucks and SUVs UAW members build.þþStellantis has more than 90 days worth of Jeeps in stock, and has been building SUVs and trucks on overtime, according to Cox Automotive data. But a week-long shutdown at the Toledo Jeep plant could cut revenue by more than $380 million, based on Stellantis financial reports.þþFiorani estimated the limited action would stop production of about 24,000 vehicles a week.þþIn Wayne, Michigan, hundreds of people, including auto workers on the night shift and their supporters, gathered at a Ford assembly plant as the strike began.þþ
Source: reuters.com
