U.S. auto workers are expected to return to talks with Chrysler maker Stellantis on Thursday, a tense day after a surprise walkout at Ford's biggest and most profitable plant sharply raised the stakes between the United Auto Workers and the Detroit Three.
Kentucky truck plant employing 8,700 workers, the largest single walkout since targeted strikes began four weeks ago, came as the UAW and StellantisFord's shares fell 2.2% to $11.98 in premarket trade while GM's shares were marginally lower by 0.1% at $30.95.
UAW President Shawn Fain's decision to shut down assembly lines that build Ford Super Duty pickup trucks and Lincoln Navigator and Ford Expedition large SUVs is a blow to Ford that could quickly undermine the automaker's full-year profits. Fain and other UAW officials called a meeting with Ford at 5:30 pm ET on Wednesday and demanded a new offer, which Ford did not have, a Ford official said.
Ford said the decision was "grossly irresponsible but unsurprising given the union leadership's stated strategy of keeping the Detroit 3 wounded for months through 'reputational damage' and 'industrial chaos.'" "We're not gonna wait around forever," he said on social media platform X on Wednesday evening. "If Ford can't get that after four weeks on strike, these 8,700 workers shutting down their biggest plant will help them understand it."
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