UAW, Volkswagen agree to unionization vote at Tennessee plant: The vote will take place April 17-19, the NLRB said.
axios.com/2024/03/25/volkswagen-uaw-union-vote-chattanooga
VW workers in Tennessee will vote in April on whether to join UAW: Workers at Volkswagen's Chattanooga, Tennessee, assembly plant will vote in April on whether ...
reuters.com/business/autos-transportation/vw-workers-tennessee-will-vote-april-whether-join-uaw-2024-03-25/
UAW says workers at VW Tennessee plant file for union election: The United Auto Workers said Monday that workers at Volkswagen's Chattanooga, Tennessee ...
reuters.com/business/autos-transportation/uaw-says-workers-vw-tennessee-plant-file-union-election-2024-03-18/
Charleston police investigating SC death of Boeing retiree turned whistleblower: The death of John Barnett, a retired Boeing 787 quality manager in North ...
postandcourier.com/business/boeing-charleston-787-dreamliner-death-john-barnett/article_2fc2b10e-e014-11ee-a0d9-17ca46dedb59.html
Quick Glance: Boeing Whistleblower’s Legal Battle Could Continue Posthumously, Lawyer Asserts
- A whistleblower and former Boeing inspector who passed away before his case concluded could have his matter heard posthumously, as per a legal expert.
- Barnett's death should not halt the claim, as his estate could step in as the complainant, stated whistleblower attorney Stephen Kohn.
- Boeing denied retaliating against Barnett but failed to dismiss the plaintiff's case.
- Barnett's attorneys urged local police to continue investigating despite the coroner's initial ruling.
A petition by assembly plant workers in Chattanooga, Tennessee to vote on unionizing scored a first win in the UAW’s attempt to organize workers at ...
go.forbes.com/c/8SeG
Intel's plan to postpone chip plant in Italy confirmed by the country's Industry Minister
tomshardware.com/tech-industry/intels-plan-to-postpone-chip-plant-in-italy-confirmed-by-the-countrys-industry-minister
Tesla settles race bias claims by Black former worker after $3 million verdict: Tesla has settled a long running lawsuit by a Black former factory worker who ...
reuters.com/legal/tesla-settles-race-bias-claims-by-black-former-worker-2024-03-15/
The UAW is calling for a vote to unionize the VW plant in Tennessee: The factory would be the only non-Detroit Three automotive assembly plant in the U.S ...
axios.com/2024/03/18/uaw-volkswagen-chattanooga-union-united-auto-workers-vw
Exclusive: Italy in talks with China's Chery on car plant: The Italian government is holding talks with China's Chery Auto as part of efforts to attract another ...
reuters.com/business/autos-transportation/italy-talks-with-chinas-chery-car-plant-2024-03-13/
Samsung Partners with NHDAL on Consumer Electronics Assembly Plant in Nigeria: The partnership between Samsung and NHDAL, sealed at a ceremony in Lagos ...
premiumtimesng.com/promoted/676835-samsung-partners-with-nhdal-on-consumer-electronics-assembly-plant-in-nigeria.html
Fact Check: Did President Biden Help Bring An Auto Plant Back?: During last week's State of the Union address, President Joe Biden made a claim that seemed to ...
thetruthaboutcars.com/cars/news-blog/fact-check-did-president-biden-help-bring-an-auto-plant-back-44505631
Chief of Boeing Renton plant ousted in wake of Alaska Flight 1282 blowout: The moves at Boeing come more than a month after a Renton-assembled MAX 9 saw a ...
seattletimes.com/business/boeing-aerospace/boeing-ousts-head-of-737-max-program-reshuffles-leadership-team/
Quick Glance: Boeing replaces 737 MAX program leader in restructuring
- In a strategic move, Boeing has replaced the leader of the 737 MAX program at its Renton plant and reorganized the leadership team of the Commercial Airplanes Division.
- These changes were communicated to employees this morning in a message from Stan Deal, the head of Boeing Commercial Airplanes.
- Following an incident involving a Renton-assembled MAX 9 where a fuselage panel blew out during an Alaska Airlines flight, scrutiny on quality control at Boeing and its suppliers has intensified.
- Ed Clark, who previously served as the vice president of the MAX program and general manager of the Renton facility, will be departing the company and being succeeded by Katie Ringgold.
Let Tesla Expand? Germans Vote No.: A local town’s vote against the U.S. automaker’s proposed expansion is nonbinding, but citizens expect it to be honored.
nytimes.com/2024/02/21/business/tesla-germany-plant.html
Quick Glance: Grünheide: Citizens Vote Against Tesla Expansion
- Municipality to vote on construction project
- Tesla's expansion plans include logistics hub and warehouses
- Public participation reflects opposition to factory expansion
- Steinbach sees rejection as an opportunity for Grünheide
Tesla Halts Production in Germany After Suspected Arson Attack: Police believe the blaze at a high-voltage power pylon had been deliberately set ...
nytimes.com/2024/03/05/business/tesla-germany-factory-fire.html
Quick Glance: Tesla Attack: Musk Anger as Factory Halts
- An attack on the power supply of the Tesla factory in Grünheide near Berlin led to a production stoppage.
- The left-wing extremist "Vulkangruppe" claimed responsibility, causing significant economic damage.
- Politicians strongly condemn the attack and call for action against left-wing extremism.
- Elon Musk criticizes the ecoterrorists and emphasizes the importance of electromobility.
UAW workers at Ford's Kentucky truck plant threaten strike next Friday: Nearly 9,000 United Auto Workers union members at Ford's biggest and most profitable ...
reuters.com/business/autos-transportation/uaw-workers-fords-kentucky-truck-plant-serve-strike-notice-2024-02-16/
Quick Glance: Auto Workers Threaten Strike at Ford Plant
- United Auto Workers union threatens strike at Ford's Kentucky Truck Plant.
- Nearly 9,000 workers may strike on Feb. 23 over local contract dispute.
- Second potential strike in a year at the factory following previous shutdown in October.
- Negotiations ongoing between Ford and the union to reach an agreement.
Boeing seeks to buy Spirit Aero, 19 years after selling troubled Wichita plant: The move to acquire Spirit comes after a long series of quality problems with the ...
seattletimes.com/business/boeing-aerospace/boeing-seeks-to-buy-spirit-aero-19-years-after-selling-off-troubled-wichita-plant/
Quick Glance: Boeing Plans Acquisition of Spirit Aero and Delays Production Hikes
- Boeing is in talks to buy its former subsidiary Spirit AeroSystems and is delaying plans to increase 737 aircraft production due to a crisis triggered by a mid-air incident.
- Boeing is struggling with quality issues resulting from years of decentralization of production capacities and loss of experienced workers. Reintegrating Spirit AeroSystems could address some of these quality problems and give Boeing more manufacturing control.
- The US Federal Aviation Administration has prevented Boeing from increasing 737 MAX production, leading Boeing to postpone production increases until 2024 and 2025.
- Spirit AeroSystems is facing cash flow problems and quality issues with fuselages for Boeing's 737 narrowbody jets. The opportunity to acquire Spirit could help Boeing address these issues.
Biden touts deal to reopen idled Stellantis plant in State of the Union address: President Biden touted Belvidere, Illinois, as a "great comeback story" after he ...
detroitnews.com/story/news/politics/2024/03/07/biden-touts-deal-to-reopen-idled-stellantis-plant-in-speech/72884436007/
Qatar visit: $350 million hydrogen plant to be sited in Kaduna State – Gov Sani: The Kaduna governor also revealed that the state was able to attract investors ...
premiumtimesng.com/promoted/674594-qatar-visit-350-million-hydrogen-plant-to-be-sited-in-kaduna-state-gov-sani.html
Finland’s resilience against Russia, Patria’s F-35 assembly facility and decline in suicides: Finland in the world press
helsinkitimes.fi/world-int/world-news/finland-in-the-world-press/24974-finland-s-resilience-against-russia-patria-s-f-35-assembly-facility-and-decline-in-suicides-finland-in-the-world-press.html
Russia unveils Shahed drone production line for the first time: Russia has publicly showcased its assembly line for Shahed type suicide drones ...
defence-blog.com/russia-unveils-shahed-drone-production-line-for-the-first-time/
BMW begins building Gen-5 EV battery assembly plant in Thailand – local BEV production to start 2H 2025
paultan.org/2024/03/04/bmw-begins-building-gen-5-ev-battery-assembly-plant-in-thailand-local-bev-production-to-begin-2h-2025/
Cabinet clears 3 semiconductor plants with investment of Rs 1.26 trillion: Cabinet approves three more semiconductor units; two in Gujarat and one in Assam
business-standard.com/industry/news/cabinet-clears-3-semiconductor-plants-with-investment-of-rs-1-26-trillion-124022901102_1.html
Key Nuclear Weapons Plant Forced To Pause Operations Due To Texas Wildfires: Officials at Pantex, the U.S.’s primary nuclear weapons assembly plant ...
forbes.com/sites/siladityaray/2024/02/28/key-nuclear-weapons-plant-forced-to-pause-operations-due-to-texas-wildfires/
Elon and the terrible, horrible, no good, very bad legal week: Workers allege discrimination, missing payments
theregister.com/2024/02/29/x_tesla_employee_lawsuits/
Kyrgyzstan: Building work starts on another auto plant: Kyrgyzstan's booming car re-export business appears to be in peril. So it is now turning to assembling ...
eurasianet.org/kyrgyzstan-building-work-starts-on-another-auto-plant
Rivian laying off 10% of salaried workforce as EV demand slows: Rivian has more than 8,000 workers in Normal, including about 7,000 hourly assembly workers who ...
chicagotribune.com/2024/02/22/rivian-layoffs-salaried-workers/
Ford just dodged an autoworker strike at its biggest plant: Some 9,000 members of the United Auto Workers union in Kentucky had been set to walk off the job on ...
qz.com/ford-kentucky-truck-plant-union-deal-1851274197
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Firm’s assembly plant will create jobs, says Japanese envoy: The Japanese Ambassador to Nigeria, Matsunaga Kazuyoshi, has commended the management of Sacral ...
punchng.com/firms-assembly-plant-will-create-jobs-says-japanese-envoy/
BYD EVs Are Coming to the U.S. How Long Do Tesla and Ford Have to Prepare?: News of a potential BYD plant in Mexico should set off alarm bells in the boardrooms ...
barrons.com/articles/byd-evs-ford-tesla-060b69dd
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Roam raises $24M to scale electric vehicle production in Kenya: Roam, an EV startup based in Kenya, has raised $24 million in a Series A round ...
techcrunch.com/2024/02/14/roam-raises-24m-series-a-funding/
Mercedes' new sales strategy is a bad omen for its luxury EVs: The luxury brand is reportedly directing its attention to its volume-sellers.
thestreet.com/electric-vehicles/mercedes-new-sales-strategy-is-a-bad-omen-for-its-luxury-evs
Boeing SC lays groundwork for plant expansion but says nothing is imminent: Boeing is getting the paperwork in place for potential expansions at its South ...
postandcourier.com/business/boeing-787-dreamliner-south-carolina/article_f8396334-cc33-11ee-a57b-93e2cbefc9ca.html
Fain: UAW will unionize at least 1 nonunion automaker in 2024: In a interview, UAW President Shawn Fain said soon more nonunion automakers will see 50% of their ...
freep.com/story/money/cars/2024/02/16/uaw-unionize-south-automaker-plants-mercedes-benz-hyundai-volkswagen/72583775007/
Volkswagen on UAW unionization campaign: "Neutral doesn't mean silent"
axios.com/2024/02/15/uaw-volkswagen-chattanooga-tennessee-union
Tata, Pegatron in partnership talks for iPhone assembly in India's Tamil Nadu - sources
reuters.com/technology/tata-pegatron-partnership-talks-iphone-assembly-indias-tamil-nadu-sources-2024-02-01/
Toyota ups investment in Kentucky plant set to make 3-row electric SUV: An additional $1.3 billion investment adds a battery pack assembly line to the plant that ...
greencarreports.com/news/1142229_toyota-investment-kentucky-plant-3-row-electric-suv
Lockheed Martin to lay off 200 employees at Fort Worth’s F-35 assembly plant
star-telegram.com/news/local/fort-worth/article284881672.html
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Boeing's SC 787 plant is steady amid turbulence elsewhere at the planemaker: Boeing Co. said its 787 Dreamliner factory in North Charleston is "doing a very ...
postandcourier.com/business/boeing-787-dreamliner-north-charleston/article_bac1738a-c04d-11ee-af16-07d19bd4b551.html
Mercedes-Benz is getting into an unusual new venture aimed for its discerning customers
thestreet.com/automotive/mercedes-benz-is-getting-into-an-unusual-new-venture-aimed-for-its-discerning-customers
GM Pushed Shift Time Back to Let Workers Watch NFC Championship Game: The Detroit Lions have never played in a Super Bowl, but the team’s appearance in this ...
thetruthaboutcars.com/cars/news-blog/gm-pushed-shift-time-back-to-let-workers-watch-nfc-championship-game-44504815
14 Ford Edge SUVs Stolen From Factory Lot in Most Boring Car Heist Ever: Earlier this month, thieves broke into Ford's Oakville assembly plant and stole 14 ...
thedrive.com/news/14-ford-edge-suvs-stolen-from-factory-lot-in-most-boring-car-heist-ever
GTV Motor – first Cambodian automotive brand sets up assembly plant; production to commence this year
paultan.org/2024/01/24/gtv-motor-first-cambodian-automotive-brand-sets-up-assembly-plant-production-to-commence-this-year/
Volkswagen Celebrates 75 Years in America: Seventy-five years ago, a pair of Volkswagen Beetles were imported to this country, marking the start of this brand ...
thetruthaboutcars.com/cars/news-blog/volkswagen-celebrates-75-years-in-america-44504671
VW marks 75 years of triumph and turmoil in the US: The brand that brought the U.S. the Beetle is celebrating its past and promoting its future with special ...
freep.com/story/money/cars/mark-phelan/2024/01/20/volkswagen-marks-75-years-of-triumph-and-turmoil-in-the-u-s/72264447007/
Watch A YouTuber Break Into This Fiat Plant That Has Been Abandoned For 13 Years: Millions of Fiats were pushed through this factory, but now it sits a silent ...
jalopnik.com/watch-a-youtuber-break-into-this-fiat-plant-that-has-be-1851172316
Bringing home building inside: Will high tech modular housing construction crack the affordability crisis?
theglobeandmail.com/real-estate/article-bringing-home-building-inside/
George Kent expands operations in Vietnam: PETALING JAYA: George Kent (M) Bhd has set up a new subsidiary named George Kent (Vietnam) Co Ltd (GK Vietnam) ...
thestar.com.my/business/business-news/2024/01/16/george-kent-expands-operations-in-vietnam
1984 Revisited: Ford's was so rooted in Cork that its closure was unthinkable
irishexaminer.com/news/spotlight/arid-41299483.html
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GM delays another major EV initiative after pushing back electric Silverado, GMC Sierra
electrek.co/2023/12/13/gm-delaying-another-major-ev-initiative/
More than 1,000 VW workers in Tennessee sign union representation cards - UAW: The United Auto Workers union said on Thursday that more than 1 ...
reuters.com/business/autos-transportation/more-than-1000-vw-workers-tennessee-sign-union-representation-cards-uaw-2023-12-07/
General Motors to cut 1,300 workers across two factories: General Motors will lay off about 1,300 workers from two of its Michigan plants ...
cnn.com/2023/12/14/cars/general-motors-layoffs/
Former Lordstown Motors CEO: We're Committed to the Endurance EV Truck: Steve Burns acquires the bankrupt company’s assets for $10 million and ...
autoweek.com/news/a46106110/lordstown-motors-revived-as-landx-endurance/
Hyundai and Kia are ‘pulling ahead’ with strong EV demand despite rival concerns: Despite concerns over a cooling EV market, Hyundai and Kia are “very bullish” ...
electrek.co/2023/11/17/hyundai-kia-pulling-ahead-on-strong-ev-demand/
Look inside the UAW's work to organize transplants, EV autoworkers: “I think people who had never given a thought to a union stopped and started thinking about a ...
detroitnews.com/story/business/autos/foreign/2023/12/11/uaw-organize-transplants-ev-autoworkers/71678033007/
Tesla said to have chosen India for next Gigafactory location, announcement likely in January – report
paultan.org/2023/12/28/tesla-said-to-have-chosen-india-for-next-gigafactory-location-announcement-likely-in-january-report/
Volkswagen becomes the latest automaker to hike wages for U.S. factory workers: Volkswagen (VOWG.DE) said on Wednesday that it would hike salaries for production ...
reuters.com/business/autos-transportation/volkswagen-becomes-latest-automaker-hike-wages-us-factory-workers-2023-11-22/
Boeing SC permit request hints at bigger plans for Dreamliner plant: Also, construction is ready to start on a new parking lot for finished 787s at the company's ...
postandcourier.com/business/boeing-north-charleston-south-carolina-787-dreamliner/article_a7d9aaee-a031-11ee-97b2-13b7d92bb8f3.html
Tesla moves to pause US agency lawsuit alleging race bias at factory
reuters.com/legal/tesla-moves-pause-us-agency-lawsuit-alleging-race-bias-factory-2023-12-19/
Foxconn set to open its first iPhone assembly plant in Bengaluru in April: Foxconn Bengaluru Plant: The key Apple supplier will create a capacity that can ...
business-standard.com/companies/news/foxconn-set-to-open-its-first-iphone-assembly-plant-in-bengaluru-in-april-123121400249_1.html
Union workers at Stellantis and Ford close to ratifying deals that would end lengthy labor disputes
orlandosentinel.com/2023/11/17/union-workers-at-stellantis-and-ford-close-to-ratifying-deals-that-would-end-lengthy-labor-disputes/
Quick Glance: GM Workers' Contract Likely to Pass Despite Worker's Discontent
- Photographed on September 15, 2023 at General Motors' Wentzville Assembly Plant in Wentzville, Missouri.
- On October 30, UAW President Shawn Fain announced a contract deal with General Motors, praising the workers for their relentless fight.
- A significant number of GM workers voted against the record contracts, including a majority at some of the company's largest plants.
- Workers at GM's Arlington Assembly plant voted for the contract, while Ford workers were more positive, and the voting at Stellan in the Toledo Assembly Complex of Stellantis is pending.
AP Sources: Auto workers and Stellantis reach tentative contract deal that follows model set by Ford
apnews.com/article/uaw-stellantis-tentative-contract-agreement-d32cb38791730c4c92a8b2112c205e59
Quick Glance: UAW reaches preliminary contract agreement with Ford
- The four-year contract, which still needs to be approved by 57,000 union members at the company, could bring an end to the union's series of strikes at targeted factories run by Ford, General Motors, and Jeep maker Stellantis.
- The agreement with Ford could set the framework for agreements with the other two automakers, where workers will remain on strike.
- The UAW called on all workers at Ford to return to their jobs and said that will put pressure on GM and Stellantis to negotiate.
- "We told Ford to step up, and they did," said President Shawn Fain in a video address to members.
UAW says GM tentative contract deal outlines EV investment plans, will raise wages for U.S. workers
theglobeandmail.com/world/article-uaw-says-gm-tentative-contract-deal-outlines-ev-investment-plans-will/
This tour of the abandoned factory that once built the Cadillac Allante and Ferrari Testarossa is fascinating. www.motor1.com/news/699659/abandoned-pininfarina-factory-tour-video/
NIO wins special approval for EV production after years of contract manufacturing
technode.com/2023/12/05/nio-wins-special-approval-for-ev-production-after-years-of-contract-manufacturing/
UAW making push to unionize Georgetown Toyota plant after strike win in Louisville
kentucky.com/news/business/article282501313.html
Quick Glance: UAW Launches Campaign to Organize Auto Manufacturers
- UAW announces campaign to organize Toyota, Tesla, Honda, and other non-unionized automakers in the US.
- Union unveils website for electronic signing of union authorization cards for 13 companies.
- Union aims to expand membership after negotiating record contracts with Detroit's Big Three and plans to organize thousands of workers.
- Growing movement of workplace activism drives the campaign as workers across industries strike for better pay and benefits.
WATCH LIVE: Biden delivers remarks on UAW agreement at auto plant in Belvidere, IL
pbs.org/newshour/politics/watch-live-biden-delivers-remarks-on-uaw-agreement-at-auto-plant-in-belvidere-il
Stellantis to give big raises, invest billions in UAW deal: Chrysler-parent Stellantis (STLAM.MI) has agreed to build a new $3.2 billion battery plant and invest ...
reuters.com/business/autos-transportation/uaw-leaders-send-stellantis-contract-deal-members-vote-source-2023-11-02/
United Auto Workers Wins Tentative Deal with Stellantis and GM, Following Ford: The United Auto Workers has reached a tentative deal for a collective bargaining ...
democracynow.org/2023/10/30/headlines/united_auto_workers_wins_tentative_deal_with_stellantis_following_ford
Quick Glance: UAW-Ford Deal: Victories in Wages, Benefits, Investments
- Ford to invest $8.1 billion in manufacturing and offer workers up to $70,000 extra pay over the contract period.
- Ford gains the opportunity to provide unlimited $50,000 buyouts to older workers earning the top rate.
- UAW releases contract terms after negotiations with union leaders and presents them for ratification.
- Ford to add electric vehicles to existing plants in Louisville and Ohio, investing $1.2 billion in Louisville and $2.1 billion in Ohio for electric vans.
Auto worker union targeting South Carolina plants for BMW, Volvo in new campaign: The UAW is targeting the BMW assembly plant in Spartanburg and the Volvo plant ...
postandcourier.com/business/auto-worker-union-targeting-south-carolina-plants-for-bmw-volvo-in-new-campaign/article_f44844b0-8f03-11ee-a971-a3e60c3c54ee.html
Ford's Chicago plant UAW workers vote to ratify deal with automaker: Workers at Ford Motor's (F.N) Chicago assembly plant have voted to ratify a proposed ...
reuters.com/business/autos-transportation/uaw-local-unit-fords-chicago-plant-vote-ratify-deal-2023-11-08/
Tata to expand Hosur iPhone plant to twice its current capacity: Report
deccanherald.com/business/tata-to-expand-hosur-iphone-plant-to-twice-its-current-capacity-report-2786309
Biden to meet with UAW president, tout Stellantis plant reopening: President Joe Biden on Thursday will meet with United Auto Workers President Shawn Fain and ...
reuters.com/business/autos-transportation/biden-meet-with-uaw-president-tout-stellantis-plant-reopening-2023-11-07/
Ford to resume building EV battery plant delayed by strike, but scale it back: Ford Motor Co. is resuming construction on a Michigan electric vehicle battery ...
abcnews.go.com/Business/wireStory/ford-resume-building-michigan-electric-vehicle-battery-plant-105065519
Quick Glance: Ford Revives Electric Vehicle Battery Plant in Michigan
- Ford has restarted work on an electric vehicle battery plant in Michigan, but the plant will be smaller than initially planned.
- Last month, Ford laid off workers involved in the production of the F-150 Lightning electric pickup truck.
- Competitor General Motors has postponed expanding production capacity for the electric Chevrolet Silverado EV due to slow demand growth.
- Producing batteries in the US should enable Ford to benefit from EV tax credits linked to domestic battery manufacturing.
Ford Motor Co. is resuming construction on a Michigan electric vehicle battery plant that the company postponed two months ago during a strike by the United ... Show more
UAW is going on strike against Ford truck plant in Kentucky: The United Auto Workers union significantly has escalated its strikes against Detroit Three ...
apnews.com/article/auto-workers-uaw-strikes-layoffs-factories-60f444a85a51b1261b093fdaaae4bdb4
Quick Glance: Only 9% of Americans Support Car Manufacturers During Auto Worker Strike
- Majority of Americans support higher wages for striking car manufacturers
- Support for car manufacturers lower than for striking Hollywood writers and actors
- 51% say labor unions benefit U.S. workers
- Only 25% of Americans approve of Biden's handling of the auto dispute
Ford workers join those at GM in approving contract settlement that ended UAW strikes
abcnews.go.com/Business/wireStory/ford-workers-join-gm-approving-contract-settlement-ended-104999376
The road to local automobiles: Nigerians must be encouraged by the rollout of the 2000th car off the assembly plant of Chinese automobile manufacturers ...
punchng.com/the-road-to-local-automobiles/
UAW strikes GM largest plant that makes its very profitable full-size SUV: The United Auto Workers union took its most serious shot yet at GM in its five-week ...
cnn.com/2023/10/24/business/gm-uaw-strike-escalade-suburban-arlington/
Quick Glance: GM profit impacted by strikes, potential for further losses with strike expansion
- A strike by auto workers against General Motors is expected to reduce pretax earnings by $800 million this year, with an additional $200 million per week afterwards, according to the company's CFO.
- GM reported net income of over $3 billion from July to September, a 7% decrease compared to the same period last year due to lost production from the strike and increased warranty costs, stated Jacobson.
- The company has also withdrawn its previous full-year pretax earnings estimates, citing uncertainty regarding the duration of the strike and the number of factories that would be affected.
- However, excluding one-time items, GM reported earnings of $2.28 per share, surpassing Wall Street's estimate of $1.87.
1,300 jobs at risk at Alstom's Litchurch Lane train-making plant in Derby: The redundancies are part of Alstom's plan to cut around 1,500 jobs across its ...
news.sky.com/story/1-300-jobs-at-risk-at-alstoms-litchurch-lane-train-making-site-in-derby-13008996
Quick Glance: Alstom Considers Capital Increase Amid Cash Flow Warning
- French train maker Alstom (ALSO.PA) is considering a capital increase and seeking asset sales worth up to 1 billion euros to strengthen its balance sheet, causing a 21% decrease in shares.
- The company also announced approximately 1,500 job cuts to reassure investors after predicting a negative free cash flow of 500-750 million euros until March 2024.
- The manufacturer of France's TGV high-speed trains has lost about $4.5 billion of its market value this year - almost half its market capitalization.
- Chairman and CEO Henri Poupart-Lafarge stated that while demand remains sustained, the group's commercial performance has softened.
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