97% Say Yes: UAW Union's Strike Vote Sends A Clear Message To The Automotive Giants Like Ford, GM And Stellantis

The United Auto Workers (UAW) President Shawn Fain announced that the union's strike authorization vote passed with near universal approval from the 150,000 union workers at Ford Motor Co F, General Motors Co GM and Stellantis NV STLA.  

The current combined average across the Big Three was 97% in favor of strike authorization.

The vote does not guarantee a strike will be called, but the union has the right to call a strike if the companies refuse to reach a fair deal. 

The union's demands include the elimination of tiered wages and benefits, wage increases to offset inflation and match the salary increases of company executives over the last four years.

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The demands also include the re-establishment of cost-of-living allowances and defined benefit pensions and retiree healthcare, the right to strike over plant closures, significant increases to current retiree benefits, and more paid time off to be with family.

"Our union's membership is clearly fed up with living paycheck-to-paycheck while the corporate elite and billionaire class continue to make out like bandits," said President Fain.

"The Big Three have been breaking the bank while we have been breaking our backs."

Price Action: GM shares are trading lower by 0.21% at $32.81 on the last check Friday.

Photo Via UAW