Automakers
While Wall Street was pleased at the prospect of cost-savings, the restructuring plans are certain to strain the upcoming negotiations between the U.S. automakers and the United Auto Workers Union on a fresh labor contract,
In a statement, the union responded to the announcement by emphasizing how difficult the job cuts will weigh on workers and their families. "We maintain that the company cannot cut its way to profitability and have emphasized that a successful growth strategy depends on the skills and know-how of the UAW workforce," it said.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
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|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.03 |
Oil *
103.16
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DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
0.22 |
10 Yr
1.60%
SPDR Gold
151.91
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-1.28%
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-1.43%
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-1.17%
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-1.35%
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