New York’s Pension Fund Pressures Micron to Make Union Deal

Bloomberg07-26

(Bloomberg) -- New York’s $260 billion pension fund is urging Micron Technology Inc. to adopt a global policy of labor neutrality, which would pave the way for workers at the company’s chip factories ...

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Micron previously agreed to hold talks with the Communications Workers of America in New York about such an agreement, after the chipmaker won a preliminary award for billions in federal grants and loans from the 2022 Chips and Science Act. But the negotiations have been “disappointing” so far, according to a CWA spokesperson.New York State Comptroller Thomas DiNapoli said that a neutrality policy at Micron would reduce “the likelihood of labor disputes, strikes or work stoppages that could disrupt operations and negatively impact shareholder value,” according to his July letter to Micron Chief Executive Officer Sanjay Mehrotra. The New York State Common Retirement Fund owned about 1.7 million Micron shares as o","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1316542783.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD","LU0889566641.SGD":"FTSF - Templeton Shariah Global Equity A Acc SGD","BK4512":"苹果概念","LU2250418816.HKD":"BGF WORLD TECHNOLOGY \"A\" (HKD) ACC","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","BK4588":"碎股","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU2360106780.USD":"BGF WORLD TECHNOLOGY \"A4\" (USD) INC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0056508442.USD":"贝莱德世界科技基金A2","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","BK4553":"喜马拉雅资本持仓","BK4585":"ETF&股票定投概念","LU1267930813.SGD":"FRANKLIN TEMPLETON SHARIAH GLOBAL EQUITY \"AS\" (SGD) ACC","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","BK4566":"资本集团","LU0081259029.USD":"UBS (LUX) EQUITY FUND - TECH OPPORTUNITY \"P\" (USD) ACC","MU":"美光科技","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4527":"明星科技股","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4579":"人工智能","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","BK4141":"半导体产品","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","LU0127658192.USD":"EASTSPRING INVESTMENTS GLOBAL TECHNOLOGY \"A\" (USD) ACC","LU0082616367.USD":"摩根大通美国科技A（dist）"},"translate_title":"纽约养老基金向美光科技施压，要求其与工会达成协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MU":1},"content_text":"(Bloomberg) -- New York’s $260 billion pension fund is urging Micron Technology Inc. to adopt a global policy of labor neutrality, which would pave the way for workers at the company’s chip factories to form and join unions. \nMost Read from Bloomberg\n\nTrump Risks Losing Voters He Needs With Loaded Attacks on Harris\nHarris Just Showed Why Trump Is So Afraid of Her\nMarkets Tear Up Popular Trades That Reached ‘Stupid Levels’\nStocks Caught in Tug of War Between Tech and Rest: Markets Wrap\nI Changed My Mind. The Fed Needs to Cut Rates Now.\n\nMicron previously agreed to hold talks with the Communications Workers of America in New York about such an agreement, after the chipmaker won a preliminary award for billions in federal grants and loans from the 2022 Chips and Science Act. But the negotiations have been “disappointing” so far, according to a CWA spokesperson. \n“We have had discussions with Micron but have not made meaningful progress toward an enforceable labor peace agreement,” the union said in a statement. \nMicron said it “respects the rights of workers to form and join trade unions of their own choosing, to bargain collectively and to peacefully assemble as permitted under applicable local law.” It didn’t immediately respond to a request for comment on the union’s characterization of the discussions.\nUnder a typical neutrality accord, companies agree not to interfere with organizing and workers pledge not to disrupt operations. That would be a boon for unions looking to organize a wave of new factories spurred by President Joe Biden’s economic policy. \nIt’s an uphill battle in the semiconductor industry, where companies have resisted unionization over concerns including the risk of adversity between labor and management. Intel Corp., CWA President Claude Cummings said earlier, has responded coolly to the prospect of labor peace discussions. \nNew York State Comptroller Thomas DiNapoli said that a neutrality policy at Micron would reduce “the likelihood of labor disputes, strikes or work stoppages that could disrupt operations and negatively impact shareholder value,” according to his July letter to Micron Chief Executive Officer Sanjay Mehrotra. The New York State Common Retirement Fund owned about 1.7 million Micron shares as of March 31. Micron hasn’t responded to the letter, according to Mark Johnson, the fund’s press secretary. \nMicron is investing as much as $100 billion to build as many as four chipmaking factories in upstate New York, and is in line to receive $6.1 billion in Chips Act grants, plus billions more in loans and tax credits. That’s on top of $5.8 billion in incentives from the state, which has its own semiconductor subsidy program. \n--With assistance from Ian King.\nMost Read from Bloomberg Businessweek\n\nThe Miseducation of America’s Nurse Practitioners\nThe $12,000 Harvard Class Celebrities Are Fighting to Get Into\nJoe Rogan Invaded Austin and Became Comedy’s New Kingmaker\nThe US Economy Is Slowing, Which Is Just Fine With the Fed\nElon Musk Goes All In for Trump\n\n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.3","shortVersion":"4.26.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2454351457"}