International Longshoremen's Association suspend strike as negotiations continue

Published On Oct 3, 2024, 7:06 PM

The International Longshoremen's Association, representing a large number of dockworkers in the U.S., has suspended its strike, which had severely disrupted operations at 14 major ports. The strike was sparked by wage disputes but after reaching a tentative agreement on wages, the workforce will return to work as negotiations continue through mid-January. This resolution comes during a critical period for shipping as the holiday season approaches, helping to avert potential supply chain chaos.

Read full article

Stock Forecasts

XPOView XPO chart on TradingView

Positive

With the strike suspension, we can expect improvements in shipping and logistics, stabilizing supply chains that have been under pressure, especially during the holiday season. Companies reliant on these ports may see a positive impact on operations and profitability as delays are minimized.

Related News

International Longshoremen's Association suspend strike as negotiations continue

Oct 3, 2024, 7:06 PM

The walkout threatened to plunge the holiday shopping season into turmoil and become an issue in next month's presidential election.

XPO

Dockworkers' union reaches tentative agreement, will suspend port strike until January

Oct 3, 2024, 7:00 PM

U.S. port operators have proposed a conditional offer of a 62% wage increase to dock workers to end a strike and get back to work, FOX Business has learned.

XPO

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.

XPO