Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

GM workers at Mexico's Silao plant will vote on union Feb 1-2, govt says

Published 01/14/2022, 01:57 PM
Updated 01/14/2022, 03:36 PM
© Reuters. FILE PHOTO: The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021.  REUTERS/Rebecca Cook/File Photo

MEXICO CITY (Reuters) - Mexico's government said on Friday that a trade union vote at the General Motors Co (NYSE:GM) plant in the central city of Silao will be held on Feb. 1-2 after workers voted last year to scrap their collective contract.

Under a Mexican labor reform that underpinned the new United States-Mexico-Canada Agreement (USMCA) trade deal, workers are now meant to be able to freely choose groups they feel will best fight for their interests.

A defeat for one of the most powerful unions in the country, the August vote was the first test of labor rules under an accord that replaced the 1994 North American Free Trade Agreement (NAFTA).

GM workers will be asked to choose from four unions aiming to win the contract, according to the document shared by the Mexican government on Friday.

One, SINTTIA, is an independent group that grew out of the efforts last year among workers to scrap their collective contract.

The union that previously held the Silao plant's collective contract will not attempt to win back its representation.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.