AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)

DETROIT: Shawn Fain, the new president of the United Auto Workers union, on Monday said he is ready to go to war against “employers who refuse to give our members their fair share.” Fain spoke to a gathering of local union leaders in Detroit after being declared the UAW’s new president on Saturday. He won a closely-contested race against incumbent Ray Curry by fewer than 500 votes, according to the count administered by a court appointed monitor.

Now, Fain faces the task of unifying UAW members for what promises to be difficult negotiations this summer and fall with the Detroit Three automakers - Ford Motor Co, General Motors Co and Stellantis NV’s.

Fain said during his campaign that he will fight for substantial changes to the current master contracts with the Detroit automakers.

On the UAW president’s agenda are ending the current two-tier wage system under which new hires at Detroit Three plants earn 25% less than UAW workers with five or more years on the job.

Fain has also called for reinstatement of cost of living adjustments, or COLA, to offset inflation, no concessions on health benefits and no US plant closings.

The UAW last year negotiated 10% wage increases in the first year of a six-year agreement with farm equipment maker John Deere. Earlier this month, UAW workers at heavy equipment maker Caterpillar ratified a six-year contract providing for 27% wage increases over its life.

Those contracts could be models for the UAW’s goals in talks with the Detroit automakers beginning this summer, analysts said.

The Detroit automakers have reported robust profits during the past four years from their North American operations, mainly thanks to the pickup trucks and SUVs that UAW members assemble.

However, North American operations for the Detroit Three automakers are under pressure as they pour billions into electric vehicles and battery production. All three companies have moved to cut costs, reducing salaried staff or, in Stellantis’ case, idling a US assembly plant.

The UAW and Detroit automakers will begin bargaining toward new contracts this summer.

In 2019, UAW workers at General Motors went on strike for 40 days before a new contract was ratified, costing the automaker $3 billion.

Comments

Comments are closed.