Filed under: Earnings/Financials,UAW/Unions,GM
General Motors Co on Tuesday slashed its earnings forecast for 2019, saying that a 40-day U.S. labour strike by the United Auto Workers union that brought virtually all of its North American operations to a standstill would cost it around $3 billion (£2.3 billion) in profits this year. Wall Street analysts have viewed the strike costs as a tradeoff for three U.S. plant closures agreed to with the union that will boost GM's profitability.
Continue reading GM cuts earnings forecast, says strike cost it $3 billion in lost profit
GM cuts earnings forecast, says strike cost it $3 billion in lost profit originally appeared on Autoblog on Tue, 29 Oct 2019 09:50:00 EDT. Please see our terms for use of feeds.
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