UAW Cracks Piggy Bank, Rivian Layoffs, Delta Deploys Porsche 911s

‍Show Notes with links:

The UAW is setting aside $40 million towards organizing efforts in the next two years for auto and battery workers in the U.S. without union representation, signaling a significant push towards enhancing labor rights in the burgeoning EV ecosystem.

• This initiative comes as a response to growing organizing activities among auto and battery workers currently outside of union membership.
• With the electric-vehicle battery sector expected to add tens of thousands of jobs, the UAW is acting to secure workers' interests sooner than later
• "Through a massive new organizing effort, workers are fighting to maintain and raise the standard in the emerging battery industry," the UAW states.

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Rivian Automotive has announced a workforce reduction of  10% and predicting flat production levels at 57,000 for 2024, amidst a net loss reduction in Q4.

• The company is experiencing a net loss improvement, reporting $1.52 billion in Q4, down from $1.72 billion the previous year, despite a full-year loss of $5.43 billion.
• CEO RJ Scaringe cited consumer reluctance due to high interest rates causing an impact on demand as he announced production shutdowns for efficiency improvements.
• "Our business is not immune to existing economic and geopolitical uncertainties," Scaringe acknowledges, pointing to the high interest rates affecting demand.
• Despite these challenges, Rivian is optimistic about its future, particularly with the upcoming R2 platform aimed at the midsize SUV market, promising a price below $50,000.
• Rivian employees were left in suspense last night when they were told about the 10% reduction and informed they'd have to wait until the next morning to learn if their roles were affected by layoffs, creating a night of uncertainty

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Delta is stepping up its game at LAX by partnering with Porsche to shuttle passengers with short layovers at LAX using a 911 GT3 RS

• The service is part of Delta's continuous efforts to maintain its status as North America's most punctual airline, utilizing its fleet of Porsche vehicles for the benefit of elite passengers.
• Aimed more at marketing than speed due to regulatory limitations, the presence of a bright-red Porsche on the tarmac is designed to capture attention and generate social media interest.
• "Perhaps this is Delta's secret weapon to remain the most on-time airline in North America," underlines the strategic partnership between Delta and Porsche for delivering exceptional customer experiences.
• This exclusive service is offered to the airline's top-tier clientele, emphasizing Delta and Porsche's commitment to providing unparalleled service innovations.

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