Dockworkers' union suspend strike until Jan. 15 to allow time to negotiate new contract

Published On Oct 3, 2024, 6:40 PM

The International Longshoremen’s Association, representing 45,000 U.S. dockworkers, has temporarily suspended a three-day strike at East and Gulf coast ports until January 15, to allow for contract negotiations. The union had gone on strike over wage disputes and automation concerns affecting the supply chains, particularly during the crucial holiday shopping season. While dockworkers will return to work immediately, details on the wage agreement reached are not disclosed.

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The temporary suspension of the strike may lead to increased port operations and a steady supply of goods in the market, reducing the risk of shortages. This can potentially uplift the stock prices of companies relying on shipping and logistics, particularly in the retail sector, as they can continue operations without disruption.

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Dockworkers' union suspend strike until Jan. 15 to allow time to negotiate new contract

Oct 3, 2024, 6:40 PM

The union representing 45,000 striking U.S. dockworkers at East and Gulf coast ports has reached a deal to suspend a three-day strike until Jan. 15 to provide time to negotiate a new contract. The union, the International Longshoremen’s Association, is to resume working immediately.

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