The clock is ticking for Unifor and Ford Motor Co. (NYSE: F) in Canada, with their contract poised to expire when the clock strikes midnight on Monday night.
Unifor, the union representing the workers, is in intense negotiations with Ford, aiming for an agreement that could also guide discussions with other fellow major automakers, including General Motors and Stellantis. Central to Unifor’s negotiation agenda are better pensions, wage hikes, and job assurances in the upcoming electric vehicle-centric future.
Demonstrating solidarity and determination, 98.9% of Unifor’s Ford members have greenlit a strike action should the bargaining falter, as employees’ unrest grows thanks to surging corporate profits and persistent inflation.
“We’ve gone through a period where corporations have done very well, CEOs have done very well, and we’re (workers) looking for our share. This is occurring everywhere and on top of that we have a bit of a cost of living crisis going on so this is driving a lot of the discussions,” said Unifor president Lana Payne in an interview with Bloomberg last week.
Meanwhile, the automotive industry’s labor tensions aren’t restricted to Canada, as south of the border, 13,000 US autoworkers— represented by the United Auto Workers, initiated strikes last week, affecting a plant from each of the renowned Detroit Three automakers.
“We’re going to have assess daily and hourly basically in terms of what’s happening in the United States,” added Payne. “The Canadian and U.S. auto industry is highly integrated.”
Information for this story was found via the Canadian Press. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.