The United Auto Workers (UAW) union and General Dynamics (GD.N) have reached a tentative agreement over a new labor contract covering hundreds of workers at some of the U.S. defense contractor's facilities, the company said on Monday, staving off a potential strike.
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S. September 29, 2023. REUTERS/Rebecca Cook/File Photohave reached a tentative agreement over a new labor contract covering hundreds of workers at some of the U.S. defense contractor's facilities, the company said on Monday, staving off a potential strike.
General Dynamics, one of the largest U.S. defense contractors, manufactures weapons systems, munitions, combat vehicles such as Abrams tanks - which are beingLike its peers, General Dynamics has struggled with supply and labor shortages at a time when weapons demand is on the rise due to the war in Ukraine, conflict in the Middle East and tensions in U.S.-China relations over Taiwan.
UAW members at the company make military vehicles including tanks and light armored vehicles, according to the union. UAW did not immediately respond to a request for comment. Details of the proposed agreement, which needs to be ratified by UAW workers, were not immediately available.A tight U.S. labor market, the expiry of multiple union contracts and high living costs have led to tough negotiations for pay hikes and benefits, triggering strikes and protests across industries.
General Dynamics has said it expects to negotiate the terms of 28 agreements with unions and works councils, covering about 12,600 employees this year. The company has a global workforce of 106,500 employees as of February.Fisker cut prices of its high-end Ocean Extreme SUV on Monday, while raising prices on two lower-priced variants, as the firm grapples with a slowdown in electric-vehicle demand and a price war started by dominant player Tesla .
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