The auto workers strike at General Motors, now in its third week, has cost the carmaker about $1 billion so far, according to a report released Tuesday. The strike, launched last month by the United Auto Workers, halted US production immediately and Canadian and Mexican facilities were progressively affected soon thereafter, said a report by JPMorgan Chase. The overall cost is "likely over $1 billion at this point," the report said, adding that the company has the potential to recover some of the lost profits in the fourth quarter if the strike ends soon. Nearly 50,000 US autoworkers have been on strike since September 16 as the biggest US auto company and the UAW spar over ...
Keep on reading: Genera Motors’ Loss from Strike Estimated at $1 Billion
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