General Motors said on Wednesday its new labor deals after a lengthy U.S. strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33% dividend increase and "substantially lower" spending at its robotaxi unit Cruise.
  • jonne@infosec.pub
    391·
    10 months ago

    Looks like the UAW left 10 billion on the table. Hopefully they won’t make that mistake next time.

  • SeaJOP
    312·
    10 months ago

    $10 billion in stock buybacks, an increase in dividends, and cuts to deadly autonomous vehicles. It is clear that the union should have asked for more.

  • andrewta@lemmy.world
    15·
    10 months ago

    Wait they took a hit of $9.3 billion and they are going to do now do a $10 billion buyback? Doesn’t that mean that they are now down $19.3 billion?

    • dan1101
      3·
      10 months ago

      Sorta, but I think buying the stock is a way to prevent the stock from going down. And they are betting it will go up in the long run and they can resell at a profit.