Market Chatter: Rivian Strikes Secret Deal With UAW to Make Unionizing its Workforce Easier

MT Newswires Live12-19 22:44

Rivian Automotive (RIVN) recently reached a deal with the United Auto Workers that would make unionizing the company's workforce easier, Bloomberg reported Thursday, citing people familiar with the matter.

Under the terms of the confidential agreement, the electric-vehicle maker would adopt a neutral stance toward efforts to unionize workers at its Illinois factory, contingent on Rivian reaching certain criteria, including profitability metrics, the people reportedly told Bloomberg.

Rivian and the UAW did not immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 13.65, Change: +0.59, Percent Change: +4.52

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