GM strike impacts 150,000 auto business employees: consulting agency

WASHINGTON: The extended strike at Normal Motors Co (GM.N) is estimated to have hit 150,000 employees within the auto business, a report from analysis and consulting agency Anderson Financial Group (AEG) confirmed on Tuesday.

The strike on the No.1 U.S. carmaker started on Sept. 16, with its 48,000 members of the United Auto Staff (UAW) union in search of increased pay, better job safety, an even bigger share of the automaker’s revenue and safety of healthcare advantages.

About 75,000 staff of auto components suppliers have both been briefly laid off or have seen their wages shrink as a result of hunch in demand from GM, in response to the AEG report.

Learn Extra: Some 46,000 Normal Motors auto employees strike in US

The analysis agency estimates that the strike has resulted in a $660 million revenue hit for GM and greater than $412 million direct wage losses for all staff via the third week of the strike.

It has additionally led to $155 million in misplaced federal earnings and payroll tax income and $9.1 million in misplaced Michigan earnings tax income.

Talks for a brand new four-year labor contract took a “flip for the more severe” on Sunday after the UAW rejected GM’s newest supply however the two sides have been nonetheless speaking.

“We proceed to fulfill with the Firm and are nonetheless not in settlement on key points resembling wages and healthcare”, UAW Vice President and Director Terry Dittes stated.



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