American Axle, UAW labor talks near deadline
Feb. 25
Analysts have said the UAW's agreements with GM, Chrysler and Ford Motor Co provide a template for cost-cutting agreements at American Axle, which pays wages and benefits on par with those at the major automakers. American Axle was spun off from GM in 1994 when Chief Executive Dick Dauch bought five GM axle plants and its current wage structure still reflects terms the UAW had negotiated with the No. 1 U.S. automaker. Like other U.S. auto parts suppliers, American Axle has looked to expand production in emerging markets as it seeks cost reductions in the slumping North American market. American Axle pays its hourly workers wages and benefits totaling about $65 per hour, roughly equivalent to the top wage for the three Detroit automakers.
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Posted Under: Auto Parts, Automakers