U.S. automakers and union negotiators offered little hope a deal would be reached on Thursday to avoid a midnight walkoff that would be the United Auto Workers' first-ever simultaneous strike against the Detroit Three carmakers.
for a series of strikes targeting individual, undisclosed U.S. auto plants if agreements are not reached by 11:59 p.m. EDT on Thursday , rather than a full walkout.Fain said the Detroit Three had offered 146,000 U.S. auto workers pay raises of as much as 20% over 4-1/2 years, but he blasted the proposal as inadequate even as automakers protested the union had yet to formally respond to their latest more generous offers. The union is asking for 40% raises and major improvements in benefits.
Fain outlined a strategy to "create confusion" with a series of work stoppages targeting individual U.S. plants if no deal is reached. Stopping work at a key engine or transmission plant, for example, could have a cascading effect by depriving other factories of parts they need to produce vehicles. Another option would be to strike profitable pickup truck or SUV assembly plants.
Coordinated strikes would represent arguably the most ambitious U.S. labor action in decades and could impact U.S. economic growth, depending how long they last.A full strike would hit earnings at each affected automaker by about $400 million to $500 million per week assuming all production was lost, Deutsche Bank has estimated.
Some losses could be recouped by boosting production schedules after a strike, but that possibility fades as a strike extends to weeks or months."to get a win-win agreement that keeps UAW workers at the heart of our auto future," White House economic adviser Jared Bernstein said Wednesday. A prolonged strike could pose political problems for Biden.
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