Stellantis, Ferrari Italy Unions Demand Wage Rise Amid Inflation Surge: Report - Stellantis (NYSE:STLA), Ferrari (NYSE:RACE)

Worker unions in Italy, representing car makers Stellantis NV STLA, and Ferrari NV RACE, are planning to ask for a wage rise to counter inflation.
The union bodies, Reuters reported, will likely ask for an 8.4% pay rise in 2023.
The salary increase proposal is a part of a new four-year contract that will be presented by worker unions FIM-CISL, UILM, Fismic, UGLM, and AQCF.
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The present contract, affecting about 70,000 Italian workers, is due to expire at the end of 2022.
The move comes in the wake of an 8.9% rise in consumer prices in Italy for the month of September.
Also Read: Stellantis Seeks Energy Production At European Plants
Price Action: STLA shares are trading lower by 0.25% at $11.96 in premarket o the last check Monday.
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