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Stock impact report

UAW Reaches Secret Deal With Rivian to Make Unionizing Easier [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
(Bloomberg) -- In recent months, the United Auto Workers reached an agreement with Rivian Automotive Inc. that would make it easier to unionize the company's workforce — contingent on the electric-vehicle maker ever reaching profitability. Most Read from Bloomberg NYPD Car Chases Are Becoming More Frequent — and More Dangerous Dakar's Air Quality Plummets as Saharan Dust Descends on Senegal Under Rivian and the UAW's confidential pact, the automaker would adopt a neutral stance toward efforts to organize workers at its Illinois factory where its vehicles are made, according to people familiar with the matter. The neutrality commitment will only take effect once the company reaches certain criteria including profitability metrics, said the people, who didn't elaborate on what those metrics were and spoke on condition of anonymity to describe the private terms. The previously unreported neutrality commitment could help pave the way for the UAW to organize workers at Rivian, a Show less Read more
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