On Monday, Stellantis (NYSE: STLA) denied failing to honor its commitments with the United Auto Workers under an agreement reached in 2023, even as the union prepares for an unprecedented strike a year after a national walkout.
Last week, UAW President Shawn Fain said several of its union local chapters were laying the groundwork for strikes after accusing Stellantis of breaking its contract promises.
The union’s grievances center around the company’s product and investment commitments made during the contract negotiations last autumn.
The main sticking points for the UAW revolve around delays of a planned multibillion-dollar investment into a new battery plant and factory in Belvidere, Illinois, and possible plans by Stellantis to move production of the Dodge Durango SUV out of the U.S.
“To be clear, Stellantis has abided, and will continue to abide, by the agreement the parties reached in 2023,” Stellantis’ North America COO Carlos Zarlenga said.
Chrysler-parent Stellantis (NYSE: STLA) North American operations have been struggling and have attracted criticism from consumers and workers who have argued the company has not done enough to invigorate demand.
(Source: Reuters)
Mark Glenn is a financial journalist and breaking news reporter for ABBO News. Mark is known for his ability to deliver real-time news updates on market developments, mergers and acquisitions, corporate earnings reports, and regulatory changes, helping investors stay informed and make sound financial decisions.
