The international company that owns the American brands is struggling with a glut of unsold cars and smaller profits. The layoffs could have ripple effects through its U.S. workforce of 52,000.
The four major U.S. automakers — GM, Ford, Stellantis and Tesla — all reported earnings this week and saw their stocks decline. The auto industry is at a "Darwinian" inflection point, says one CEO.
Autoworkers are on strike at General Motors, Ford and Stellantis, an unprecedented move by the United Auto Workers union. Already, there are ripple effects.
Bold union demands, bolstered by a tight labor market and frustration throughout the COVID-19 pandemic, are paying off in some sectors with significant raises for workers.
As autoworkers' real wages fall, top executives at the Big Three carmakers continue to earn tens of millions of dollars each year — hundreds of times more than the median employee.
