Dockworkers' union, employers to resume talks as strike threat looms
Published On Jan 2, 2025, 2:50 PM
The International Longshoreman's Association (ILA), representing 45,000 U.S. dockworkers, is resuming negotiations with the United States Maritime Alliance (USMX) due to an impending strike threat over unresolved issues regarding wages and automation. A previous agreement provided a 62% wage increase over six years, but further talks are necessary as the deadline to avoid a strike approaches on January 15. If a second strike happens, the previous wage agreement could be nullified.
Stock Forecasts
SBUX
Negative
The ongoing conflict regarding automation in the ports presents potential operational disruptions that could affect sectors reliant on shipping and logistics. Companies that are highly dependent on port operations may experience stock price pressure if a strike occurs, as delays in shipping and increased costs could impact their earnings.
FDX
Positive
If the negotiations successfully yield a new agreement, it could stabilize the ports, allowing companies that rely on consistent freight transport to perform well. Companies like FedEx and UPS might experience a positive price movement if the strike is avoided and operations continue without disruption.
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