Posts tagged stock buyback
Union authorizes strike against Bud Light parent company
December 26, 2023 // The Teamsters union has overwhelmingly voted to authorize a potential strike against Anheuser-Busch’s breweries in the U.S. if a new contract agreement cannot be reached early next year. According to the union’s president, 99% of its 5,000 members who work at 12 Anheuser-Busch breweries voted to approve a strike “if Anheuser-Busch’s executives can’t get their act together to negotiate an agreement that respects workers.”
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.