👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Ford production workers at Kentucky, Louisville vote against new labor deal

Published 11/13/2023, 12:37 AM
Updated 11/13/2023, 06:16 AM
© Reuters. FILE PHOTO: FILE PHOTO: A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023.  REUTERS/Luke Sharrett/File Photo/File Photo
GM
-
F
-
META
-
STLA
-

(Reuters) -Production workers at Ford (NYSE:F)'s Louisville assembly and Kentucky truck plants have voted against the tentative labor agreement, while skilled trades workers voted in favor, the local chapter of the United Auto Workers (UAW) said on Monday.

The ratification of the contract was voted down by 55% of the production workers whereas 69% of the skilled trades workers, which includes maintenance and construction employees backed it, the UAW Local 862 said in a Facebook (NASDAQ:META) post.

The union did not disclose the overall percentage of the votes in favor or the total number of votes cast.

The vote signals that approval of the deal, which is set to significantly raise Ford's costs, is not guaranteed. The union and the company did not respond to Reuters requests for comment.

The automaker had last month pulled its full-year forecast due to uncertainty over the pending ratification of the deal with the UAW.

Union workers are voting on contracts from each of Chrysler-owner Stellantis (NYSE:STLA), GM and Ford, after the first coordinated strike against Detroit's Big Three automakers.

Of the total votes cast at Ford's various facilities so far, 70.7% of workers have voted in favor of the deal, according to a UAW vote tracker.

© Reuters. FILE PHOTO: FILE PHOTO: A United Auto Workers (UAW) union member wears a pin while picketing outside Ford's Kentucky truck plant after going on strike in Louisville, Kentucky, U.S. October 12, 2023.  REUTERS/Luke Sharrett/File Photo/File Photo

Workers at some of the company's major plants including the Dearborn Truck plant in Michigan are yet to vote.

On Friday, union members at General Motors (NYSE:GM)' Flint assembly plant in Michigan narrowly voted against the proposed contract with the U.S. automaker.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.