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The United Auto Workers union (UAW) boasts a membership of approximately 146,000 members who will vote next week on authorizing their leaders to call strikes against the Big Three. The union’s contracts with General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F) and Stellantis NV (NYSE:STLA) expire at 11:59 p.m. Sept. 14.
“Whether or not there’s a strike next month is entirely up to the Big Three automakers,” said Fain in his statement.
The union did not name a target company for a strike.
Fain has set some ambitious goals for the contract talks. He mentioned that the union will be aiming for more than a 40% raise in general pay over four years, bringing back pensions for newer employees, getting cost-of-living increases, ending wage tiers, and other benefits. He’s also saying that while workers can make significant gains, they should be prepared to go on strike to make it happen.
The union is also seeking assurances that it will have representation for employees at ten upcoming U.S. electric vehicle battery plants, which are largely collaborative efforts involving Korean battery companies.
Automakers are arguing that they are confronting substantial investment expenses, amounting to billions of dollars, due to the transition from traditional internal combustion engines to electric vehicles.
In a recent letter to workers last week, Stellantis’ Chief Operating Officer, Mark Stewart, criticized Fain for engaging in dramatic behavior and resorting to personal attacks. Stewart accused Fain of “theatrics and personal insults” that Stewart said will not help to reach a deal. He emphasized that the company’s priority is to establish a deal grounded in “economic realism.”
GM said Monday it’s bargaining in good faith on a “contract that provides job security and supports good wages and benefits for our team members while enabling companies to compete successfully domestically and globally.”
Shares of STLA, F and GM are down 1.77%, 1.60% and 1.89% respectively in afternoon trading on Tuesday.
