GM faces $50m a day losses as union strikes over jobs and benefits
The company began September with more than 820,000 vehicles in inventory, about 80 days’ supply, so a short strike will not affect it
16 September 2019 - 17:44
Southfield — The United Auto Workers union is leading its first strike against General Motors in 12 years, digging in for a fight over jobs and benefits. The strike involves nearly 50,000 workers.
The strike took effect at midnight and may cost GM about $50m a day in earnings before interest and taxes due to lost production, Dan Levy, an analyst at Credit Suisse, said on Sunday. The shares fell as much as 3.4% to $37.52 early on Monday...
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