Hyundai net income falls 11th straight quarter as strikes cut productionWed, 26, Oct 2016
Hyundai posted a drop in quarterly profit after labor strikes hurt domestic production and a stronger currency eroded repatriated earnings. Operating profit declined 29 percent to 1.07 trillion won ($943 million) while net income fell for an 11th consecutive quarter to its lowest level in more than four years.
Hyundai group execs to take 10 percent pay cutTue, 25, Oct 2016
Hyundai Motor Group said about 1,000 of its executives will take a 10 percent pay cut, the first such move in seven years at South Korea's second-largest conglomerate that shows the harsh impact of market share woes and labor strife at its flagship firm.
Deals in Canada slow the jobs bleedingSat, 22, Oct 2016
The roughly $900 million Canadian in investment commitments that Unifor has secured from the Detroit 3 thus far might not be enough to fully reverse the long-term trend of auto manufacturing jobs leaving Canada, labor experts say.
VW targets $4.1 billion in cost cuts, report saysThu, 20, Oct 2016
Volkswagen is targeting about 3.7 billion euros ($4.1 billion) of cost cuts at its core VW brand by 2021 as it wrestles with labor leaders over a turnaround plan, sources told Reuters. The targeted savings would be in addition to a 5-billion-euro efficiency program announced by VW in 2014.
VW works council denies it has agreed to cost-cutting dealWed, 19, Oct 2016
Volkswagen labor leaders said they had not yet struck a deal with management on cost cuts at the VW brand, denying an earlier report in a German business magazine.
VW labor boss demands commitment to battery production, report saysTue, 18, Oct 2016
VW should commit to investing in the development and production of batteries for electric cars, the automaker's works council chief Bernd Osterloh said. VW is said to be mulling an $11 billion battery plant to rival Tesla's Gigafactory.
As Unifor-Ford talks kick off, workers scoff at pattern dealMon, 17, Oct 2016
Unifor President Jerry Dias was able to persuade General Motors and Fiat Chrysler to invest in Canada. Now the biggest remaining hurdle for the head of Canada's auto workers union may be Ford workers themselves.
PSA plans 2,000 job cuts amid Brexit, diesel decline fearsMon, 17, Oct 2016
PSA plans to cut more than 2,000 jobs, around 3 percent of its workforce, in France next year amid uncertainty over the effects of Brexit and falling diesel sales, a French radio station said.
GM invests millions in Mexico as Ford absorbs Trump's blowsFri, 14, Oct 2016
After watching Republican presidential candidate Donald Trump bash Ford for moving jobs to Mexico, GM has pushed ahead with its own expansion. It just hasn't said as much as Ford. GM is advancing on an $800 million investment for its global small-car lineup that includes a factory retooling in San Luis Potosi state. That plant and another Mexico factory will also build the redesigned Chevy Equinox crossover.
Canadian FCA workers approve 4-year contractSun, 16, Oct 2016
Fiat Chrysler Automobiles workers represented by the Canadian union Unifor on Sunday ratified a new four-year labor contract with the automaker, which pledged more than $251 million in investments.
VW could cut 25,000 jobs over 10 years as workers retire, labor leader tells paperWed, 12, Oct 2016
Volkswagen's works council chief said the company could cut up to 25,000 staff over the next decade as older workers retire to help the carmaker achieve cost-cuts needed to revive the VW brand.
Hyundai reaches tentative wage deal with South Korean unionWed, 12, Oct 2016
Hyundai reached a tentative wage pact with its South Korean labor union today, a union official told Reuters, after the automaker's worst-ever industrial strike disrupted output at its key domestic production base.