General Motors (GM) estimates that the recent United Auto Workers (UAW) strike cost it $1.1 billion. The company on Wednesday said this cost came “primarily from lost production” in a press release. Despite this, GM CEO Mary Barra said her company “will deliver very strong profits in 2023.”





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GM says strike cost US$1.1B, but it can absorb rising labour costs as it raises dividend

General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend.

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The Detroit automaker on Wednesday reinstated its full-year earnings forecast that was withdrawn during the United Auto Workers strike that ended at GM on Oct. 30.

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GM says strike cost $1.1 billion, but will absorb labor costs

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General Motors says UAW strike cost $1.1B, but it can absorb rising labor costs as it raises dividend

General Motors (GM) estimates that the recent United Auto Workers (UAW) strike cost it $1.1 billion. The company on Wednesday said this cost came “primarily from lost production” in a press release. Despite this, GM CEO Mary Barra said her company “will deliver very strong profits in 2023.” “We are finalizing a 2024 budget that…

The Hill

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Washington

District of Columbia

General Motors estimates UAW strike cost company $1.1B

General Motors said Wednesday the United Auto Workers strike cost the company $1.1 billion as it reinstated its full-year 2023 earnings guidance.

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GM says UAW strike cost $1.1 billion, but 2023 profits will be 'very strong'

GM, as well as rivals Ford and Jeep maker Stellantis, agreed to new contracts with the UAW that raise top assembly plant worker pay by about 33% by the time the deals expire in April of 2028.

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Autoworker strike cost General Motors  $1.1 billion

GM also announced a $10B accelerated share repurchase program on Wednesday.

The Detroit News

Detroit

Wayne County

Michigan

GM says UAW strike cost $1.1 billion, reinstates full-year guidance

DETROIT (AP) — Clearly frustrated with its languishing share price, General Motors on Wednesday announced a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike. The Detroit company said it lost production of 95,000 vehicles due to the United Auto Workers walkouts, costing […]

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GM says it can handle rising labor costs as it announces huge share buyback and dividend increase

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New York

GM Says It Can Handle Rising Labor Costs as It Announces Huge Share Buyback and Dividend Increase


DETROIT (AP) — Clearly frustrated with its languishing share price, General Motors on Wednesday announced a massive stock buyback plan, raised i...

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Davidson County

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Autoworker strike cost GM $1.1B, which it says it can absorb as it announces massive stock buyback

General Motors estimates UAW strike cost company $1.1B

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