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UAW push to organize Tesla and non-union auto sector

Published Nov 29, 2023 04:22PM ET
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UAW push to organize Tesla (TSLA) and non-union auto sector
 
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The United Auto Workers (UAW) union announced Wednesday their plan to unionize electric vehicle maker, Tesla (NASDAQ:TSLA) as well as the entirety of the nonunion auto industry in the United States.

This move follows the union’s successful negotiation of new contracts with the Detroit Three automakers.

UAW revealed that employees from 13 nonunion automakers have launched coordinated campaigns nationwide to join the union.

These efforts encompass companies such as Tesla, Toyota (NYSE:TM), Volkswagen, Hyundai, Rivian (NASDAQ:RIVN), Nissan, BMW, and Mercedes-Benz.

The combined U.S. assembly plants of these automakers employ nearly 150,000 workers, a figure comparable to the workforce of the Detroit Three companies, where the UAW recently finalized new labor agreements, according to the union's statement.

"To all the auto workers out there working without the benefits of a union, now it's your turn," UAW President Shawn Fain said in a video.

"The money is there. The time is right," he added.

The agreements between the UAW and General Motors (NYSE:GM), Ford Motor (NYSE:F), and Stellantis (NYSE:STLA) (STLAM) included a 25% raise in base wages until 2028, a reduction in the duration to reach top pay from eight years to three years, a 150% increase in pay for temporary workers, and their transition into permanent employees.

According to the Union’s organizing strategy, if 30% of workers at a nonunion plant sign cards seeking to join, the union will make it public. Should 50% of the workers express interest in joining, the UAW plans to host a rally alongside Fain to highlight and support this initiative.

Upon reaching a 70% threshold, coupled with the establishment of an organizing committee, the UAW intends to pursue formal recognition or request a union representation vote.

The push comes as a number of foreign automakers announced significant wage increases, as well as other compensations. A response widely perceived by analysts and industry officials as an attempt to dissuade the UAW from entering their plants.

Shares of TSLA and RIVN closed down 1.05% and 0.57% on Wednesday.

Shares of TM closed up 1.26%.

UAW push to organize Tesla and non-union auto sector
 

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Comments (9)
mike kura
mike kura Nov 30, 2023 5:05AM ET
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They should fight for their right!
Connecticut Yankee
A_Jaundiced_Eye Nov 29, 2023 9:00PM ET
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Don't count the UAW out. Especially in an election year, when Joey can troll for votes by having a few "government investigations" and Dept. of Labor lawsuits against the non-union companies. Anything for votes.
Joel
Joel Nov 29, 2023 6:20PM ET
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pretty sure the workers prefer becoming millionaires with their stock options.
Tre Hsi
Tre Hsi Nov 29, 2023 6:20PM ET
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as if line workers at Tesla plant is going to get enough stock options to even pay off their mortgages
Nov 29, 2023 6:01PM ET
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Fight them Tesla, yiur future depends on it.
michael lambiase
michael lambiase Nov 29, 2023 5:56PM ET
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UAW Sucks
Tre Hsi
Tre Hsi Nov 29, 2023 5:56PM ET
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so are the auto companies, it's always funny to see bad management trying to blame all their mistakes on the unions
Mike Wade
Bigtenmike Nov 29, 2023 5:43PM ET
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That's why I dumped my Ford stock months ago...
Brian Burns
Brian Burns Nov 29, 2023 5:21PM ET
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communist
Tre Hsi
Tre Hsi Nov 29, 2023 5:21PM ET
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Ronald Reagan was a union guy
ivan velazquez Gomez
ivan velazquez Gomez Nov 29, 2023 5:19PM ET
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Good luck with that!
Norberto Sanchez
Norberto Sanchez Nov 29, 2023 5:19PM ET
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UAW going to drive production away from the US
 
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