- Stellantis NV (NYSE:STLA) and a Mexican unit of Daimler Truck Holding AG (OTC:DTRUY) have reportedly reached agreements with Mexico’s unions to raise wages by 9% in 2023.
- The wage increases will help more than 24,000 workers in northern and central Mexico, reported Reuters.
- Stellantis has more than 15,000 unionized workers across five plants in Coahuila state and three in the State of Mexico, who will benefit from the 9% wage hike.
- Also Read: Stellantis Launches Six Fiat Car Lines In Algeria; Reveals €200M In First Wave Of Investments
- Daimler Vehiculos Comerciales Mexico has agreed to an 8.82% pay increase for 6,440 workers at its Coahuila plant.
- The workers are represented by a union that is a part of one of the country’s largest labor groups, the Confederation of Mexican Workers (CTM).
- The report further noted that the Mexican labor groups have been battling for wage lift to beat inflation.
- Also Read: Stellantis Considering Spain To Assemble Electric Cars
- Price Action: STLA shares are trading higher by 0.69% at $17.54 in premarket on the last check Wednesday.
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