Stellantis, Ferrari Italy Unions Demand Wage Rise Amid Inflation Surge: Report

Shivani Kumaresan
1 min read
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In this article:

  • Worker unions in Italy, representing car makers Stellantis NV (NYSE: STLA), and Ferrari NV (NYSE: RACE), are planning to ask for a wage rise to counter inflation.

  • The union bodies, Reuters reported, will likely ask for an 8.4% pay rise in 2023.

  • The salary increase proposal is a part of a new four-year contract that will be presented by worker unions FIM-CISL, UILM, Fismic, UGLM, and AQCF.

  • Also Read: Stellantis, Uber Ramp Up Focus On France's EV Market

  • The present contract, affecting about 70,000 Italian workers, is due to expire at the end of 2022.

  • The move comes in the wake of an 8.9% rise in consumer prices in Italy for the month of September.

  • Also Read: Stellantis Seeks Energy Production At European Plants

  • Price Action: STLA shares are trading lower by 0.25% at $11.96 in premarket o the last check Monday.

  • Photo Via Company

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