Ford Faces Labor Troubles – Analyst Blog
Zacks Market Commentaries (October 27th, 2009) Writes:
Labor unrest at Ford’s (F) auto supplier plant in India has prompted the company to shut down its Oakville, Ontario, plant for the week, which employs 3,000 workers in two shifts. The closure would cost Ford 5,000 vehicles. The idled employees would get 65% of regular pay from a combination of funding from the company and employment insurance.
The strike at Rico Auto Industries in the state of Haryana in India turned violent after an employee died recently during a protest. It has triggered a shortage of transmission parts to the Canadian plant. The plant produces Edge SUV, the Flex and Lincoln MKT seven-passenger vehicle and the Lincoln MKX.
Last week, labor trouble had erupted at some of Ford’s plants when some members of United Auto Workers (UAW) declined to ratify the modifications to its 2007 labor contract. The modifications include banning strikes over wages or ...
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Analyst, Canada, cent;, Chrysler, Dearborn Truck Plant, Detroit, employment insurance, Flex, Ford, Gary Walkowicz, General Motors, Haryana, India, Investing Lessons, Lincoln MKX;, Michigan, Oakville, Ontario, Rico Auto Industries, Stocks to Watch, United Auto Workers, United States, USD, Zacks Market Commentaries


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