UAW strikes could expand on Friday as negotiations deadline approaches

Investing.com -- The United Auto Workers union may reportedly expand its ongoing strikes at plants owned by three big U.S. automakers on Friday if labor talks with these firms fail to show significant progress.

Earlier this week, several media outlets reported that the UAW plans to extend the scope of the walkouts should no substantial headway be made in its fraught negotiations with General Motors (NYSE: GM), Ford Motor (NYSE:NYSE: F) or Jeep-manufacturer Stellantis (NYSE:NYSE:STLA).

UAW President Shawn Fain is set to make a video address on Friday at 10:00 ET (1400 GMT), before triggering the expanded labor actions at noon, Reuters reported, citing a source familiar with situation.

According to Reuters, the additional strikes would target factories producing these companies' large pickup trucks and SUVs, which could cost the businesses billions of dollars in revenue and profit.

The UAW, which first launched the strikes on Sept. 15, is at odds with the car groups over wage gains and benefits packages. About 18,300 UAW members are currently on strike, or roughly 12% of the total union members on staff at the so-called Detroit Three vehicle makers.

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