See Also: Barron's Weekend Stock Picks: UAW's Strike Against The Big Three, Arm's Future And Sights On The S&P 500

Ford's response to the strike was to instruct 600 of its Michigan assembly workers not to report to work due to the strike's "knock-on effects." GM also announced plans to keep 2,000 workers inactive at its assembly plant in Kansas City, Kansas due to the "ripple effect" of the strike at the company's Missouri plant.

Reacting to these announcements, Fain stated, "If the Big Three decide to lay people off who aren't on strike, that's them trying to put the squeeze on our members to settle for less." He further added, "Their plan won't work." Stellantis has yet to announce any layoffs amid the ongoing strike.

As of the latest market close, Ford's stock was trading at $12.62, while GM's stock stood at $33.94 and Stellantis' was at $19.24.

Read Next: SPAC King Chamath Palihapitiya Says Tesla Can Now Completely Run Away With Car Market In The Wake Of UAW Strike: A Labor Deal 'Will Destroy The Legacy Automakers'

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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