Ford Chairman Urges UAW to End Strike and Reach Labor Agreement

Bill Ford, the executive chairman of Ford, has called on the United Auto Workers (UAW) union to bring an end to the ongoing 32-day strike and reach a new labor agreement. He emphasized the growing impact of the strike on both Ford and the U.S. economy. The strike has already led to the closure of the Kentucky Truck plant, and over 34,000 union members at Ford, General Motors (GM), and Stellantis are currently on strike.

Key Points:

1. Urgent plea to end the strike: Bill Ford urged his UAW colleagues to join forces in putting an end to the acrimonious negotiations and the strike. He emphasized the need to work together to resolve the outstanding issues.
2. Increasing impact: Ford highlighted the negative consequences of the strike, particularly the closure of the Kentucky Truck plant, Ford’s largest and most profitable assembly operation globally. He warned that the strike is not only harming tens of thousands of American workers but is also having a significant impact on the American economy as a whole.
3. Rival automakers benefiting: Ford expressed concern that rival automakers such as Toyota, Honda, and Tesla are capitalizing on the strike by enjoying an advantage in the market. He stated that these companies “are loving this strike because they know the longer it goes on, the better it is for them.”
4. UAW response: The UAW has not provided an immediate response to Ford’s remarks.
   Negotiation stance: UAW President Shawn Fain accused Ford of making inadequate offers during the negotiations. Fain called for Ford to significantly increase compensation and referred to Ford CEO Jim Farley’s pay package, suggesting that the company should allocate more resources for employees.
5. Potential impact on other automakers: It is speculated that the UAW might be targeting Ford more specifically because they believe Ford’s offer is the most favorable among all automakers. If Ford reaches an agreement, it could put pressure on GM and Stellantis to match similar terms.
6. Ford’s pro-union stance: Ford has often presented himself and Ford Motor Company as being highly supportive of unions. He called for unity between Ford and the UAW in the face of foreign competitors seeking to enter the U.S. market.

Ford’s executive chairman, Bill Ford, has appealed to the UAW to end the strike and reach a new labor agreement. The strike’s impact on Ford and the U.S. economy has been a growing concern, with the closure of the Kentucky Truck plant and the negative effects on American workers. While the response from the UAW remains unknown, the outcome of these negotiations will significantly affect the resolution of the labor dispute and the future of Ford and its workers.

Source: https://www.reuters.com/business/autos-transportation/ford-exec-calls-deal-end-uaw-strike-2023-10-16/

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