Labor economy

A Volkswagen EV ID.4 crossover at the Volkswagen of America plant in Chattanooga, Tenneessee, on June 8, 2022.Michael Wayland | CNBCDETROIT — Volkswagen workers at a plant in Tennessee have filed a petition with the National Labor Relations Board for a vote to join the United Auto Workers, the union announced Monday.The filing comes after a "supermajority of Volkswagen workers have signed union cards in just 100 days," the union said, marking a major milestone in the labor group's organizing drives of nonunionized auto…

Victoria Klesty | ReutersIn the U.S., Wegovy is no longer just for weight loss.The blockbuster drug — one of a handful of weight loss treatments to skyrocket in popularity over the last year — is now approved in the U.S. for heart health, too. But that may not translate to wider insurance coverage of the weekly injection drug from Novo Nordisk and similar obesity treatments just yet.Some employers and other health plans are still reluctant to cover Wegovy due to its hefty $1,350 monthly price tag, which they say could…

Steph Kronos, a pro-union activist, tries to talk to Starbucks customers while joining Starbucks workers, former employees and supporters in holding signs in support of a strike, outside of a Starbucks store in Arlington, Virginia, on Nov. 16, 2023.Saul Loeb | AFP | Getty ImagesA group of labor unions said on Tuesday that it was ending its proxy fight at Starbucks, after the two sides agreed last week to work toward a "foundational framework" on collective bargaining."We feel that now is the time to acknowledge the…

Recent changes to Medicaid programs, aimed at closing a health coverage gap in the U.S., have left behind some Americans — particularly people of color.Among the non-elderly population in the U.S. — those under age 65 — insured rates rose during the Covid pandemic, with 3.4 million Americans enrolling in health coverage between 2019 and 2022, according to a report by KFF. That shift was due in part to the Medicaid and health care marketplace provisions put in place as a result of the Affordable Care Act, the report…

A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023.Kevin Dietsch | Getty ImagesStarbucks workers at unionized cafes will receive the pay hikes that their nonunion coworkers first collected in May 2022, a key step as the coffee giant and the union representing some baristas signaled Tuesday that they are working toward breaking a standoff over bargaining.The wage increases are a sign of good faith from…

Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, U.S., April 27, 2023.Joe White | ReutersFord and a United Auto Workers local union reached a tentative deal on Wednesday to avert a strike at the automaker's most profitable plant.The UAW had threatened that nearly 9,000 workers at Ford's Kentucky truck plant would strike on Friday if local union demands were not resolved.The UAW said Tuesday the deal addresses local issues related to skilled trades, ergonomics and health and…

A coalition of unions is laying out its case against Starbucks ahead of a proxy fight at its annual meeting in March, arguing the coffee giant has implemented a "flawed human capital management strategy" in response to a yearslong union movement.The Strategic Organizing Center claims the situation has put the company at reputational risk, diminishing shareholder returns and isolating customers, based on polling conducted for a shareholder presentation. The coalition is pushing to replace three current Starbucks board…

Mathisworks | Digitalvision Vectors | Getty ImagesCorporate America has a message for Wall Street: It's serious about cutting costs this year.From toy and cosmetics makers to office software sellers, executives across sectors have announced layoffs and other plans to slash expenses — even at some companies that are turning a profit. Barbie maker Mattel, PayPal, Cisco, Nike, Estée Lauder and Levi Strauss are just a few of the firms that have cut jobs in recent weeks.Department store retailer Macy's said it will close five…

United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.ScreenshotDETROIT – The United Auto Workers is threatening a labor strike at Ford Motor's largest U.S. plant if local union demands aren't resolved by next week.The Detroit union on Friday said nearly 9,000 UAW autoworkers at Ford's Kentucky Truck Plant could strike at 12:01 a.m. on Feb. 23 if local contract issues remain. The plant — Ford's largest in terms of employment…

A man wearing a protective face mask walks past a Nike brand store in Kyiv, Ukraine, on Dec. 10, 2020.Valentyn Ogirenko | ReutersNike is cutting 2% of its current workforce, or more than 1,500 jobs, as part of a broader restructuring, the company said late Thursday.The Beaverton, Oregon-based sneaker giant said it wants to better use its capital to invest in its growth areas, such as running, women's and the Jordan brand."This is how we will reignite our growth," CEO John Donahoe said in a memo obtained by CNBC."This is a…