{"id":81168,"date":"2023-11-06T07:06:40","date_gmt":"2023-11-06T12:06:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/tesla-stock-rises-it-raises-some-workers-pay-its-not-free-of-union-pressure\/"},"modified":"2023-11-06T07:06:43","modified_gmt":"2023-11-06T12:06:43","slug":"tesla-stock-rises-it-raises-some-workers-pay-its-not-free-of-union-pressure","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=81168","title":{"rendered":"Tesla Stock Rises. It Raises Some Workers&#8217; Pay. It\u2019s Not Free of Union Pressure."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000791676\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Tesla<br \/>\n       is increasing pay for workers in Germany. It\u2019s a reminder that the electric-vehicle manufacturer can\u2019t totally ignore the union pressures that have rocked Detroit car companies.\u00a0<\/p>\n<p>\n        Tesla<br \/>\n       (ticker: TSLA) executives disclosed a 4% wage increase for workers at its site near Berlin during CEO Elon Musk\u2019s visit to the factory last week, The Wall Street Journal reported on Sunday, citing people familiar with the matter.<\/p>\n<div class=\"paywall\">\n<p>Tesla shares were up 2.4% in premarket trading on Monday. \u00a0<\/p>\n<p>Tesla has come under pressure from local German politicians and the IG Metall union over conditions at the Berlin site, which isn\u2019t unionized. The plant produces about 5,000 cars a week according to the company and has around 11,000 workers.\u00a0<\/p>\n<p>The promised wage increase is significantly less than the raises won by the United Auto Workers union for U.S. employees at<br \/>\n        Ford Motor<br \/>\n       (F),<br \/>\n        General Motors<br \/>\n       (GM), and<br \/>\n        Stellantis<br \/>\n       (STLA) in its recent strike. The deals agreed by the Detroit car manufacturers envisage wage rises of about 25% over the life of the contract, although they are yet to be ratified by UAW members.<\/p>\n<p>Ford was up 0.6% in premarket trading, while GM was up 0.7% and<br \/>\n        Stellantis<br \/>\n       was down 0.3%. <\/p>\n<p>Tesla has resisted union drives at its sites in the U.S. and Europe but that\u2019s not a guarantee it can resist wage pressures, which could cut into its margins. UAW President Shawn Fain has signaled union\u2019s next targets are U.S. sites without union representation. <\/p>\n<p>Japan\u2019s<br \/>\n        Toyota Motor<br \/>\n       (7203.Japan) recently agreed to give most of its U.S. auto-factory workers a 9% pay bump from the start of next year, even though its factories aren\u2019t unionized.  <\/p>\n<p>One valuable incentive that car manufacturers have in negotiations with workers is to promise future vehicles will be manufactured at their site. Musk told workers the German assembly plant would build its next-generation vehicle, which is expected to have a price tag of around $25,000. <\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/tesla-stock-pay-union-uaw-307ece96?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tesla is increasing pay for workers in Germany. It\u2019s a reminder that the electric-vehicle manufacturer can\u2019t totally ignore the union pressures that have rocked Detroit car companies.\u00a0 Tesla (ticker: TSLA) executives disclosed a 4% wage increase for workers at its site near Berlin during CEO Elon Musk\u2019s visit to the factory last week, The Wall [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":81169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-81168","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tesla Stock Rises. It Raises Some Workers&#039; Pay. 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