Posts tagged buyout
GM expects labor contracts to cost an additional $9.3 billion
November 29, 2023 // In their Wednesday business update, GM told investors and customers that the contracts, which included massive pay and benefit increases for its workers, would cost the company significantly. The car giant also reinstated its 2023 business guidance and announced a $10 accelerated stock buyback. Additionally, GM released its estimate for how much the UAW strike cost the firm. According to the Wednesday announcement, GM estimates that the strikes, which began in September and ended late last month, cost the company around $1.1 billion, with bonuses and other benefit increases likely costing the company an additional $200 million before the end of the year.
Stellantis offers buyout packages to 6,400 salaried employees
November 17, 2023 // The company said Monday it was offering buy-outs to 6,400 non-bargaining U.S. employees, which is about half of the company's total work population. The "necessary structural actions" the company said it was taking was to protect its operations. "As we prepare for the transition to electric vehicles, Stellantis announced today that it will offer a voluntary separation package to assist those non-represented employees who would like to separate or retire from the Company to pursue other interests with a favorable package of benefits," said Stellantis in a statement.
The Fort Worth Star-Telegram strike marks a major moment for Texas newsroom unions
December 6, 2022 // When 21 reporters from the Fort Worth Star-Telegram announced their intention to walk out Monday, it made headlines. But as the first open-ended newsroom strike in Texas history, it was also a big step for the state’s fledgling newsroom unionizing efforts. In addition to the Star-Telegram newsroom, reporters at the Dallas Morning News and Al Dia; and the Austin American-Statesman unionized as news guilds in the past two years. The Star-Telegram is owned by McClatchy, the Statesman by Gannett, and the Dallas Morning News and Al Dia are owned by DallasNews Corp. All three unions are in the process of negotiating contracts and all of them have cited pay issues as a major driver.
BuzzFeed Union Overwhelmingly Votes in Favor of Strike Authorization
March 31, 2022 // “People are fucking pissed, this was absolutely the most aggressive union-busting tactic our management has taken in the three years since this union pushed them to even recognize them,” BuzzFeed News Union chair Addy Baird told The Daily Beast.