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Key takeaways
- GM and Stellantis have laid off a collective 2,300 workers as a direct result of the UAW strikes
- Ford temporarily laid off factory workers last week
- All three stocks closed downwards on Thursday as a result
Looks like the dispute between the Chicago Three and the United Auto Workers (UAW) union is getting ugly. General Motors and Stellantis have laid off workers, which they say is a direct consequence of the strike after Ford temporarily laid off employees last week.
The gap between the UAW’s expectations and Ford, GM and Stellantis’ offers is pretty broad – which means the strike could escalate and turn into a months-long affair. As a result, the three car makers’ stocks are struggling to stay buoyant.
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