JOURNAL ARTICLE

Ford CEO Says Once-Good Relationship With UAW Altered by Strike.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Naughton, Keith 3 of 3

Abstract

Ford Motor Co.'s relationship with the United Auto Workers (UAW) union has been altered by a strike that took place last fall, according to CEO Jim Farley. The six-week strike, the first nationwide walkout Ford had faced since 1976, resulted in the UAW winning a 33% wage increase. This strike has changed the relationship between Ford and the UAW, which could impact where the company builds future electric vehicles. Ford has the highest labor costs among the Detroit Three automakers, and the new UAW contract will add $900 to the cost of each car Ford makes, affecting the company's manufacturing plans for EVs and traditional internal-combustion-engine vehicles. Farley also expressed concerns about the competitive threat posed by low-priced Chinese EVs and emphasized Ford's focus on developing inexpensive, small EVs to overcome buyers' objections to high prices. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/02, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2024
  • Accession Number:175461496
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