UAW president criticizes Stellantis CEO for job cuts and price gouging

From CNBC: 2024-08-16 18:11:25

UAW President Shawn Fain criticizes Stellantis CEO Carlos Tavares for consumer price gouging and contract violations. The ongoing dispute between the two leaders stems from contentious bargaining talks last year. Fain alleges Tavares is increasing profits at the expense of workers and accuses Stellantis of reneging on promises in their labor agreement.

Tavares defends Stellantis’ cost-cutting measures, citing quality issues and layoffs at U.S. plants due to declining sales and product changes. The CEO aims to double revenue by 2030 through restructuring and layoffs, reducing headcount by 15.5% since December 2019. Executives view the cuts as excessive, but Tavares denies they’re causing current problems.



Read more at CNBC: UAW president slams Stellantis CEO over job cuts, alleged price gouging