🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Tesla dispute sparks Nordic solidarity strikes

Published 2023-12-08, 10:30 a/m
© Reuters.
TSLA
-

A conflict over labor conditions involving Tesla (NASDAQ:TSLA) and the Swedish trade union IF Metall has gained support from multiple unions in the Nordic region. The unions are collectively urging the automaker to engage in a collective bargaining agreement.

Initiated by approximately 130 IF Metall members on October 27, a strike prompted additional solidarity actions from dockworkers, cleaners, and car dealerships—a strategy known as sympathy strikes, wherein unaffected workers show support.

Sympathy strikes are considered legal in Nordic countries, a stark difference from the United States where such actions are mostly prohibited by law.

During November, Sweden's transport union committed to preventing the loading and unloading of Tesla vehicles at the nation's ports. Additionally, a dockworkers' union announced their refusal to handle Tesla cars in Swedish harbors starting from November 17th.

On December 6th, Norway's biggest private sector labor union announced its plan to block transit shipments of Tesla cars destined for the Swedish market.

The union emphasized its intention to send a strong message to Tesla and indicated a readiness to take action to prevent vehicle shipments through Norway to Sweden.

On December 5th, the Danish dockworkers' union said it would not unload or transport Tesla-manufactured cars intended for Swedish customers.

Following suit, PensionDanmark, a significant Danish pension fund, announced on December 6th its decision to divest its holdings in Tesla.

On December 7th, the Finnish transport workers' union confirmed that its dockworkers would refrain from loading Tesla vehicles and components bound for Sweden at all Finnish ports starting from December 20th.

Shares of TSLA are up 0.59% in early trading on Friday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.