Nov 30, 2019

Auto workers union and Fiat Chrysler reach tentative deal

United Auto Workers on week six of a national strike against General Motors on Oct. 23 in Flint, Michigan. Photo: Bill Pugliano/Getty Images

The United Auto Workers reached a tentative four-year labor agreement with Fiat Chrysler on Saturday, CNBC reports.

The big picture: UAW reached tentative deals with Ford and General Motors in October after weeks of labor strikes, reducing GM's 2019 earnings by nearly $3 billion. The auto workers' deal at Ford came quickly, without any labor disruption.

Catch up quick: Workers secured raises plus $11,000 in bonuses in its ratified deal with GM in exchange for not blocking GMs' plans to close four facilities across the U.S. UAW's strike against GM was the first U.S. auto strike in 12 years.

What's next: The tentative agreement with Fiat Chrysler awaits approval or rejection from local union leaders in the coming weeks. Fiat Chrysler's UAW employees would vote on the deal after that approval.

  • Fiat Chrysler is in talks to merge with France's PSA Group, the parent company of Peugeot. It's not known how the uncertainty of that global deal could affect U.S. labor talks, Axios' Joann Muller writes.

Go deeper: General Motors sues Fiat Chrysler alleging union bribes

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UAW votes in favor of new contract with Ford

United Auto Workers union members picket at the General Motors Tech Center on Oct. 25 in Warren, Mich. Photo: Bill Pugliano/Getty Images

The United Auto Workers Union said its members voted to approve a four-year contract with Ford, Reuters reports, after reaching a tentative deal in October.

Why it matters: With 56.3% of Ford’s hourly workers voting in favor of the deal, Ford will avoid a strike like the six-week work stoppage that cost General Motors nearly $3 billion earlier this fall, per Reuters.

Go deeperArrowNov 16, 2019

UAW president resigns amid corruption probe

United Auto Workers President Gary Jones. Photo: Bill Pugliano/Getty Images

United Auto Workers President Gary Jones has resigned, effective immediately, amid corruption charges, per his attorney, the AP reports.

Why it matters: UAW's executive board had already started taking steps to remove Jones under its bylaws, accusing him of “false, misleading and inaccurate expense records,” and indicating those charges could lead to his expulsion from the union. Jones has been implicated in an ongoing federal investigation into corruption at UAW, according to a CNBC report. He has not been charged by federal prosecutors, however federal agents raided his home in August.

Go deeperArrowNov 20, 2019

It's every carmaker for itself

The once monolithic automotive industry is splintering over a range of issues, as companies scramble to cope with unprecedented technological disruption and business challenges.

The big picture: Although fiercely competitive in the showroom, automakers have long presented a united front on shared interests like trade policy, government regulations and labor relations. That's all gone out the window lately; now it's every man for himself.

Go deeperArrowNov 22, 2019