UAW puts pressure on Detroit automakers: unless wages and benefits are raised, there will be more strikes

CTOnews.com, Oct. 21 (Reuters)-United Auto Workers (UAW) President Sean Shawn Fain warned on Friday that unless the big three Detroit automakers raise wages and benefits, there will be more strikes at trucks and SUV factories in the United States, insisting that the company can afford higher costs than record pay.

"We are cracking down on the Big three in an unprecedented way," Finn said. "these highly profitable companies can contribute more."

After a five-week strike, Finn said UAW had received offers for new contracts from GM and Chrysler parent Stellantis in the past 24 hours. Ford made its latest offer two weeks ago.

CTOnews.com noted that Fane confirmed that the Detroit Big three had agreed on a 23% pay rise and had made progress on other issues. But he told UAW members that "there is more to do". GM and Ford say the extra cost of living has increased their total compensation by more than 30%.

Warning of the possible expansion of the strike, Finn also told UAW members that the negotiations were coming to an end. "this is the most difficult part of the strike," he said. "just before an agreement is reached, the last mile is the most aggressive."

Before Mr. Finn's speech, shares of general motors and Ford both closed up about 1% on Friday.