Over 600 Workers at GE Aerospace (GE)'s Facilities Go on Strike

GE Aerospace (NYSE:GE) is among the 11 Best Performing Defense Stocks to Buy Now, with its share price surging over 63% year-to-date. However, the company is encountering a major labor strife with more than 600 UAW workers going on strike at two facilities.

On August 28, workers at the firm’s Evendale, Ohio, plant, which builds industrial and marine engines for the Navy, and the Erlanger distribution facility in Kentucky, which supplies parts to engine plants, went on strike after failing to reach a new contract agreement.

This marks the latest strike in a wave of labor unrest across the aerospace sector, with workers pressing to secure new contracts that offer higher wages and job protection. Union members had voted in favor of a strike if a new agreement was not reached with GE Aerospace (NYSE:GE) by August 27.

A spokesperson for GE Aerospace (NYSE:GE) told Reuters that the firm had activated a contingency plan, while adding that it was disappointed at the union deciding to strike before the workers were given a chance to vote on the offer.

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