• Auto Workers go on strike.
• Nearly 50,000 auto workers, all across the country, will not be going to work this morning.
• Although GM is making record profits, almost 11 billion dollars last year, the company closed down four facilities so far this year in response to macroeconomic shifts and consumer demands.
• As of December 31, 2018, the company had cash in hand in the tune of 16 billion dollars with $75.3 billion in current assets.

Autoworkers go on strike for the first time in a decade.  Nearly 50,000 auto workers, all across the country, will not be going to work this morning.  They are employees from General Motors (GM), who are part of the United Auto Workers Union.  They are working off the job after contract negotiations fell apart.

Although GM is making record profits, almost 11 billion dollars last year, the company closed down four facilities so far this year in response to macroeconomic shifts and consumer demands. Autoworkers gave up a lot to help GM survive the worst economic slump back in 2009.

General Motor has a healthy balance sheet, but it does not reflect its decision making.  As of December 31, 2018, the company had cash in hand in the tune of 16 billion dollars with $75.3 billion in current assets.

UAW Vice President Dittes said that “We stood up for General Motors when they needed us most. Now we are standing together in unity and solidarity for our Members, their families, and the communities where we work and live”. General Motors’ financials agree with the Vice-president.

Per the AUW press release, here’s a list of what they want to secure:

• Fair Wages
• Affordable Healthcare
• Our Share of Profits
• Job Security