Raphael Stevens

Canadian union Unifor and Stellantis have reached a tentative agreement Monday morning.
The deal ended a brief strike that began after a deal wasn’t reached by 11:59 p.m. Sunday.
The Unifor deal came on the heels of Stellantis’ agreement with the UAW.

Lana Payne celebrates on stage as Unifor, Canada’s largest private-sector union, announce Payne as their new president to replace outgoing leader Jerry Dias in Toronto, Ontario, Canada, Aug. 10, 2022.
Cole Burston | Reuters

DETROIT — Canadian union Unifor and Stellantis have reached a tentative agreement early Monday morning, ending a brief strike that began after a deal wasn’t reached by 11:59 p.m. Sunday.
The Canadian work stoppage involved more than 8,200 autoworkers at several facilities in the Canadian province of Ontario, including two large assembly plants that produce the Chrysler 300 sedan and Pacifica minivan and the Dodge Challenger and Charger muscle cars.

The strike and tentative deal, which must still be ratified by union members, occurred two days after Stellantis reached a tentative deal for about 43,000 U.S. autoworkers with the United Auto Workers union after roughly six weeks of targeted strikes that began Sept. 15.
Details of the tentative agreement between Unifor and Stellantis were not immediately available. The deal was patterned off a ratified agreement between the union and Ford Motor. That deal included hourly wage increases of up to 25%, reactivation of a cost-of-living allowance to battle inflation and a shorter progression for workers to reach top pay, among other new or altered benefits.
“I am very proud of the negotiating teams and thankful for their commitment and focused effort in reaching a tentative agreement with Unifor,” Stellantis North America COO Mark Stewart said in a statement.
Unifor National President Lana Payne on X, formerly known as Twitter, thanked the “bargaining committee and members! Solidarity. Always.”
The Canadian work stoppage and tentative deal occurred nearly three weeks after Unifor launched a roughly 12-hour national strike against General Motors after the sides failed to reach a tentative agreement by a union-set deadline.

Unifor, which represents 18,000 Canadian workers at the Detroit automakers, took a more traditional approach to its negotiations than its U.S. counterpart. The Canadian union is negotiating with each automaker separately and using a deal first reached last month with Ford as a pattern for GM and Stellantis.
That traditional patterned-bargaining approach runs counter to the UAW’s new strategy of bargaining with all three automakers at once. The American auto union has reached tentative agreements with Ford and Stellantis but not GM. More

“Five Nights at Freddy’s” grossed a surprising $78 million in its domestic opening weekend.
The movie benefited from a PG-13 rating, which helped draw in its younger fanbase.
It was the second-highest opening weekend for a video game adaptation.

A scene from the film “Five Nights at Freddy’s”
Universal Pictures

If anything was going to topple Taylor Swift at the box office, it had to be a killer animatronic bear, right?
“Five Nights at Freddy’s,” the new Universal-Blumhouse horror offering set in an abandoned Chuck E. Cheese-type kids’ pizza parlor, scored an estimated $78 million at domestic theaters over the weekend, a huge haul that surprised many in the industry. Swift’s “Eras Tour” concert film came second for the weekend, with an estimated $14.7 million, putting its domestic total at $149.3 million.

“Five Nights at Freddy’s” had a few things going for it. First, it was Halloween weekend, primetime for spooky movies. In fact, the flick made more in its first weekend than fellow Universal-Blumhouse horror collaboration “The Exorcist: Believer” has made in its entire domestic run so far (an estimated $59.4 million, according to Comscore).
“Five Nights” is also based on a popular horror-survival video game series that gave it a built-in younger audience. That helped it overcome generally awful reviews that left the film with a 26% “rotten” rating on movie-review aggregator Rotten Tomatoes.
Data firm EntTelligence said the movie accounted for 65% of foot traffic to theaters during the weekend. Audiences liked it, as well, giving it a strong A-minus rating, according to Cinemascore.
The movie’s PG-13 rating no doubt helped parents decide to let their kids see it, vindicating director Emma Tammi’s decision to make it a “gateway” horror movie for youngsters. (Don’t count on an R-rated cut, either.)

Freddy Fazbear and director Emma Tammi on the set of Five Nights at Freddy’s. Photo: Patti Perret/Universal Pictures
Patti Perret | Universal Pictures

“The success of ‘Five Nights’ was the culmination of many factors not the least of which was making the film accessible to younger fans via the less restrictive PG-13 rating,” said Paul Dergarabedian, senior media analyst at Comscore.

The “Five Nights” fanbase propelled it to the third-biggest domestic opening weekend for a horror movie, behind both chapters of Warner Bros.’ recent “It” movies. It also cleared the bar set by 2018’s “Halloween” as Blumhouse’s biggest opening, according to Universal.
Fans also gave it the second-biggest weekend ever for a video game adaptation, behind Universal and Nintendo’s “The Super Mario Bros. Movie,” which grossed more than $146 million in its first frame earlier this year.
“Given the high level of interest by teen audiences, these key moviegoers were clearly inspired to migrate from their gaming small screens to the big screen to enjoy a communal, in theater experience that drove weekend grosses to much higher than expected levels for ‘Freddy’s,'” Dergarabedian said.
The movie scored success at theaters even as it premiered on Peacock, NBCUniversal’s streaming service, at the same time. Universal said the movie is on pace to have the biggest-ever opening on the streamer.
Disclosure: NBCUniversal is the parent company of Universal Pictures, Peacock and CNBC. More

McDonald’s third-quarter earnings and revenue beat Wall Street’s estimates.
The company’s global same-store sales grew 8.8% in the quarter, beating StreetAccount estimates of 7.8%.
The company’s U.S. same-store sales increased 8.1%, fueled by strategic price increases.

A McDonald’s restaurant is seen in Belmont, California, on April 3, 2023.
Tayfun Coskun | Anadolu Agency | Getty Images

McDonald’s on Monday reported quarterly earnings and revenue that beat analysts’ expectations as price hikes boosted its U.S. sales.
Shares of the company rose more than 2% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

Earnings per share: $3.19 adjusted vs. $3 expected
Revenue: $6.69 billion vs. $6.58 billion expected

The fast-good giant reported third-quarter net income of $2.32 billion, or $3.17 per share, up from $1.98 billion, or $2.68 per share, a year earlier.
Excluding items, McDonald’s earned $3.19 per share.
McDonald’s revenue rose 14% to $6.69 billion.
Global same-store sales grew 8.8% in the quarter, beating StreetAccount estimates of 7.8%.

The company’s U.S. same-store sales increased 8.1%, fueled by strategic price increases. McDonald’s did not disclose how much its prices have risen compared with the year-ago period. The chain also credited its marketing campaigns and digital and delivery orders for its sales growth.
McDonald’s international operated markets division reported same-store sales growth of 8.3%, boosted by strong demand in the United Kingdom, Germany and Canada.
The company’s international developmental licensed markets segment, which includes China and Japan, saw same-store sales growth of 10.5%.
CEO Chris Kempczinski said in a statement that the broader economic environment is unfolding in line with the company’s expectations for the year.  More

Local United Auto Workers union leaders approved a tentative agreement Sunday with Ford that includes $8.1 billion in new plant investments by the company and $5,000 ratification bonuses.
The 4 ½-year tentative agreement will now be rolled out to 57,000 UAW-Ford members for regional informational meetings and then voting, the union said Sunday.
The tentative deal was reached following the union launching targeted strikes against Ford, General Motors and Stellantis following the sides not reaching deals ahead of a Sept. 14 deadline.

Members of the United Auto Workers union picket outside the Michigan Assembly Plant in Wayne, Michigan, on Sept. 26, 2023.
Matthew Hatcher | AFP | Getty Images

DETROIT – Local United Auto Workers union leaders approved a tentative agreement Sunday with Ford Motor that includes $8.1 billion in new plant investments by the company, $5,000 ratification bonuses and other economic gains such as 25% compounded wage increases and improved profit-sharing payments.
The 4 ½-year tentative agreement, which was announced Wednesday, will now be rolled out to 57,000 UAW-Ford members for regional informational meetings and then voting, the union said Sunday. The UAW did not release an expectation for when voting, which typically takes a couple weeks, will conclude.

“We send this contract to you because we know it breaks records. We know it will change lives. But what happens next is up to you all,” UAW President Shawn Fain and UAW Vice President Chuck Browning said in a joint statement included in a summary of the deal.
UAW leaders outlined some details of the tentative agreement last week but released the summary and more than 800-page contract Sunday after local union leaders approved it for member voting.
The tentative agreement was reached after the union launched targeted strikes against Ford, General Motors and Chrysler-parent Stellantis when the sides could not reach deals ahead of a Sept. 14 deadline.
The UAW announced a tentative deal Saturday with Stellantis, however, it has yet to reach a new agreement with GM, despite the sides being close to a deal last week.
The largest promised investments under the deal include $2.1 billion for Ohio Assembly for current products and a new electric van; $1.2 billion for a new EV at Louisville Assembly in Kentucky for pickup and SUV production, including hybrid versions of the Ford Expedition and Lincoln Navigator; $1 billion in Kansas City Assembly; and $900 million for F-150 production and a new electric truck.

UAW President Shawn Fain, center, talks to reporters as union members strike outside a Ford plant in Wayne, Michigan, Sept. 15, 2023.
CNBC | Michael Wayland

The 25% raises includes an 11% increase upon ratification, followed by 3% increases the next three years and then a 5% increase in October 2027. The raises and benefits such as expectations of $8,800 for cost-of-living adjustments cumulatively raise the top wage to more than $40 an hour, including an increase of 68% for starting wages to over $28 an hour.
Fain said Sunday the UAW plans to use this record deal, as well as others with different companies, as a way to assist its embattled organizing efforts, including auto companies outside of the “Big Three” Detroit automakers.
“One of our biggest goals coming out of this historic contract victory is to organize like we’ve never organized before,” Fain said Sunday during an online broadcast. “When we return to the bargaining table in 2028, it won’t just be with the ‘Big Three,’ but with the big five or big six.”
UAW said it also secured jobs and easier organizing rights at upcoming battery plants and electric vehicle assembly plants, including a battery plant being constructed by the automaker in Michigan.
A major change in the deal is its length from four years to four and a half years, with the contract set to expire in April 30, 2028. Fain said the decision to change the length was to align the deadline with May Day, also called Workers’ Day or International Workers’ Day, on May 1.
Fain urged other unions to align their deadlines to that time period as well.
Other new benefits for members under the deal include a three-year progression to top pay rates; immediate conversion of temporary workers to permanent positions after three months; enhanced profit-sharing; two weeks of paternity leave; and increased 401(k) contributions, including 10% company contribution that would equal about $11,000 per year for workers making top pay.
While the deal is a record, it did fall short of some of the UAW’s initial goals including 40% pay increase during the terms of a deal, a 32-hour workweek, traditional pensions for all workers and other benefits for retirees. More

Some pharmacy staff from Walgreens and other U.S. drugstore chains are planning to stage a nationwide walkout from Monday through Wednesday.
The effort, which organizers have dubbed “Pharmageddon,” is the latest pushback against what pharmacists and technicians call unsafe working conditions that put both employees and patients at risk. 
Organizers are also planning to hold rallies outside a few locations in different parts of the country, and are considering unionizing pharmacy staff who are currently not represented.

A sign advertises COVID-19 (coronavirus) vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, August 14, 2023.
Brian Snyder | Reuters

Some pharmacy staff from Walgreens and other drugstore chains are planning to walk out next week in the latest pushback against what they call unsafe working conditions that put both employees and patients at risk. 
Organizers of the effort and some pharmacy employees told CNBC they hope the work stoppage will push companies to make meaningful changes to address the long-standing grievances of many retail pharmacy staff, who have complained about having to grapple with what they describe as understaffed teams, insufficient pay and increasing work expectations imposed by corporate management. 

The walkout, which organizers have dubbed “Pharmageddon,” will occur Monday through Wednesday across different retail pharmacy locations nationwide, organizers of the effort told CNBC. 
An organizer named Shane Jerominski, an independent pharmacist who used to work for Walgreens, said the walkout could tentatively affect hundreds of stores across different chains.
Jerominski, who is a pharmacy labor advocate, said organizers still don’t have a definitive count of employees who will participate in the effort. But he noted that the “bulk” of those who have signaled they plan to walk out are staff from Walgreens — who laid the groundwork for the initiative — and employees from CVS and Rite Aid.
Organizers are also planning to hold rallies outside a few locations in different parts of the country, according to Jerominski and a second person involved with the planning, who requested to remain anonymous for fear of retaliation.
Jerominski and the person, who is a former pharmacy manager at supermarket chain Publix, also said they are considering a push for unionization of pharmacy staff who are currently not represented. There are no concrete agreements to move forward to join a labor group. 

A spokesperson for Walgreens said the company recognizes the “incredible work our pharmacists and technicians do every day” and that it has taken several steps in its pharmacies “to ensure that our teams can concentrate on providing optimal patient care.” 
The company’s ongoing efforts are focused on how it can recruit, retain and reward pharmacy staff, the spokesperson said. They added that Walgreens has improved technology and centralized many operations to help maintain appropriate workloads in pharmacies. 
A CVS spokesperson said in a statement that the company isn’t seeing any “unusual activity regarding unplanned pharmacy closures or pharmacist walkouts currently.” 
The spokesperson added that the company is engaging with staff to directly address any concerns they might have, and is focused on developing a “sustainable, scalable action plan” to support both pharmacists and customers. 
A spokesperson for Rite Aid did not immediately respond to a request for comment on the upcoming walkout. 
The work stoppage will come weeks after some pharmacy staff from Walgreens locations around the country, and CVS stores in the Kansas City area, engaged in separate walkouts over working conditions. Notably, CVS management apologized to Kansas City pharmacy staff and committed to a series of improvements — including adding staff and paid overtime — after the walkouts there ended. 
The demonstrations at pharmacies add to what has been one of the most active years for the U.S. labor movement in recent history. 
CVS and Walgreens were the biggest pharmacies in the U.S. based on prescription drug market share in 2022. Both chains operate around 9,000 retail store locations across the country. 
CVS has more than 30,000 pharmacists and 70,000 pharmacy technicians, while rival Walgreens has more than 86,000 health-care service providers, including pharmacists, pharmacy technicians and other positions. CVS pharmacists make $61.44 an hour on average, while Walgreens pharmacists make $53.85 per hour on average, according to employment website Indeed.

Who is participating in the pharmacy walkouts? 

As pharmacy workers prepare to walk off the job, Jerominski and the former Publix pharmacy manager said some independent and retail pharmacy locations have committed to staying open next week to provide patients with service options.
Many of the pharmacy staff who are interested in walking out appear to be from Massachusetts, Pennsylvania, California, Texas, Michigan, Missouri and Indiana, according to Jerominski.
Two pharmacy staff members from Walgreens and another two from CVS, all of whom asked to remain anonymous for fear of retribution, told CNBC that they plan to walk out. One CVS store manager, who also asked to remain anonymous for the same reason, said they would participate if their location’s pharmacist does.

A CVS location in New York, US, on Thursday, Feb. 9, 2023.
Stephanie Keith | Bloomberg | Getty Images

Other employees don’t intend to walk out, even if they support the broader effort to secure better working conditions.
A CVS employee, who was the main organizer of the Kansas City area walkouts, said the CVS pharmacy staff in that region that they represent are not inclined to participate. The employee, who asked to remain anonymous for fear of retribution, said CVS has negotiated with Kansas City staff “in good faith and made good on commitments thus far,” so walking out again would be “going backwards.”
A CVS pharmacy manager, who works in a different part of the country, said they have seen positive changes at their own store following the Kansas City walkouts. 
But the pharmacy manager, who also requested anonymity for fear of retaliation, said they will participate in one day of the upcoming walkout — and hope their colleagues will too — because they believe employees need to replicate the solidarity seen in Kansas City “on a larger scale” to ensure CVS continues to listen to their concerns.

Why are pharmacy staff walking out?

For years, many retail pharmacy employees have complained that companies such as Walgreens and CVS are placing unreasonable performance demands on employees, without providing enough staffing or resources for them to safely and responsibly execute tasks. 
They believe the issue got worse during the Covid pandemic, when pharmacists and technicians were also required to administer back-to-back tests and vaccinations on top of their normal duties. 
Many pharmacy staff told CNBC that a diminishing number of workers have to juggle ever-increasing daily tasks, which they said can force errors and put patients at risk of serious harm. 
“It boils down to us not being as attentive as we need to be when it comes to making sure people get the right medicines or making sure patients are properly educated and assisted,” a CVS pharmacist said.
Roughly 100,000 prescription errors are voluntarily reported to the Food and Drug Administration annually. Between 7,000 and 9,000 people in the U.S. die every year due to medication errors.
Some employees said the working conditions also weigh on their mental and physical health. Many staffers described feeling burnt out by their workloads.
In addition to filling and verifying prescriptions, pharmacy employees often have to juggle patient phone calls, administer vaccines every 15 minutes, resolve issues with insurance companies and doctors, perform rapid Covid and flu tests and deal with in-store customers.
“We come home and you can’t even think of doing other things because you’re just so exhausted,” a Walgreens pharmacy technician told CNBC, likening their work shift to a marathon. “I’ve been falling asleep just sitting down.”

New vaccine COMIRNATY® (COVID-19 Vaccine, mRNA) by Pfizer, available at CVS Pharmacy in Eagle Rock, CA. 
Irfan Khan | Los Angeles Times | Getty Images

Some pharmacy staff told CNBC that company-imposed performance metrics, such as filling a specific number of prescriptions a day or administering a certain number of vaccines, add even more pressure on them. 
Jerominski, the organizer and pharmacy labor advocate, claimed immunizations have become a chief priority for retail pharmacy chains because the margins on vaccines are significantly higher than the average prescription.
The CVS spokesperson said the company has reduced the number of metrics it uses in recent years, but noted the information “gleaned from safety and quality metrics provides us with a clearer picture of what’s working and where improvements may be needed.” 
Meanwhile, Walgreens announced the elimination of performance-based metrics last year, making it the only drugstore chain to do so. 
However, some Walgreens pharmacy staff told CNBC that the company continues to push their stores to hit performance goals for tasks like verifying prescriptions. Walgreens has denied employee claims that those metrics still exist.  
The former Publix pharmacy manager claimed that those types of working conditions are why few people want to work for large retail drugstore chains.

What else are pharmacy staff hoping for?

Unionization is “one hugely important piece of this process,” no matter which existing labor union steps up to represent pharmacy employees who aren’t currently represented, Jerominski said. 
He noted the vast majority of pharmacists and technicians from Walgreens and CVS have no union representation, while pharmacy staff from a handful of grocery retailers such as Kroger do. 
Jerominski said he has organized a fundraiser for a national push to unionize, which had collected nearly $60,000 as of Friday. Organizers have been in talks with multiple existing unions over the past two months, but there is no concrete agreement yet to move forward, he added. 
Jerominski said the organizations include IAM Healthcare, a union representing thousands of professionals in the health-care industry, and the United Food and Commercial Workers International Union, which represents food, retail and health-care workers across the U.S. and Canada. 
IAM Healthcare did not immediately respond to a request for comment, while UFCW has expressed its support for the recent walkouts staged by Walgreens and CVS pharmacy staff.

People make their way near a Walgreens pharmacy in New York City, March 9, 2023.
Leonardo Munoz | Corbis News | Getty Images

Some pharmacy employees also told CNBC they hope the upcoming walkout will help patients better understand the conditions employees are working in and why they may lead to longer wait times, medication errors or similar issues.
One Walgreens pharmacist said they believe patients are understandably upset when they can’t pick up their medications in a quick and seamless way. However, it can be emotionally taxing for employees when they have to deal with patients who get aggressive or, in rare cases, violent, the pharmacist said. 
Similarly, the CVS store manager said they hope the walkout will make patients more understanding.
“At the very least, I hope this results in one customer that can come in and say, ‘Hey, I get it. I’ll be right here and I’ll be patient,'” the CVS store manager said. “If it changes one customer from coming in an immediately cussing and screaming at myself — even if it’s rightfully so — then it’s absolutely worth it.” More

The United Auto Workers union and Stellantis have agreed to a tentative deal following roughly six weeks of targeted U.S. labor strikes, the union announced Saturday afternoon.
The terms of the deal had to be approved by UAW leadership before the union could officially brief local union leaders and then publicly announce the tentative agreement.
The deal, which would still need to be approved by union leaders and ratified by members, is patterned off a 4½-year agreement reached between the union and Ford Motor on Wednesday.
While there had been hopes the UAW would soon reach a similar deal with General Motors, on Saturday the union expanded its strike to a GM assembly plant in Spring Hill, Tennessee.

United Auto Workers members rally outside Stellantis’ Ram 1500 plant in Sterling Heights, Mich. after the union called a strike at the plant on Oct. 23, 2023.
Michael Wayland / CNBC

DETROIT —The United Auto Workers union and Stellantis have agreed to a tentative deal following roughly six weeks of targeted U.S. labor strikes, the union announced on Saturday.
The agreement, which must still be approved by local union leaders and ratified by members, is patterned off a 4½-year agreement reached between the union and Ford Motor on Wednesday.

Meanwhile, while there had been hopes the UAW would soon reach a similar deal with General Motors, on Saturday the union expanded its strike to an additional GM assembly plant in Spring Hill, Tennessee. “We are disappointed by GM’s unnecessary and irresponsible refusal to come to a fair agreement,” UAW President Shawn Fain said in a statement.
GM did not immediately respond to a CNBC request for comment.
Fain was with Stellantis in intense talks Thursday and Friday before turning his attention to GM. UAW and GM had been expected to resume talks on Saturday, according to a source familiar with the talks.
The UAW held a meeting early Saturday afternoon with local Stellantis union leaders following the sides agreeing in principle to the terms of a deal.
“Once again, we have achieved what just weeks ago we were told was impossible,” Fain said in a statement. “At Stellantis in particular, we have not only secured a record contract, we have begun to turn the tide in the war on the American working class.

The tentative agreement, which would still need to be approved by union leaders and ratified by members, is patterned off a 4½-year agreement reached between the union and Ford Motor on Wednesday, sources previously told CNBC.
Bloomberg News first reported Saturday the company made additional concessions to the UAW and the union aims to announce a tentative agreement this afternoon that includes a new product for an idled assembly plant in Illinois.
“Through the power of our Stand Up Strike, we have saved Belvidere,” said UAW Vice President Rich Boyer. “Eight months ago, Stellantis idled Belvidere Assembly Plant, putting 1,200 of our members on the street. From the strength of our strike, we are bringing back those jobs and more.” He added that Stellantis is reopening the plant and the company will also add more than a thousand jobs at a new battery plant in Belvidere.
“I want to applaud the UAW and Stellantis for agreeing to immediately bring back all of the Stellantis workers who have been walking the picket line on behalf of their UAW brothers and sisters,” President Joe Biden said in a statement following the contract announcement.
The deal comes after the union reached an agreement on Wednesday with Ford. That agreement still needs to be approved by union leaders and ratified by members.
The tentative agreement is expected to end six weeks of targeted labor strikes by the union after the sides failed to reach new deals for 146,000 UAW members before a Sept. 14 deadline. The union called back more than 16,000 striking Ford workers after reaching a tentative deal with the automaker.
Ford’s deal included 25% pay increases over the term of the agreement, including an initial increase of 11%. The raises and benefits cumulatively raise the top wage to more than $40 an hour, including an increase of 68% for starting wages to over $28 an hour.
It also reinstated cost-of-living adjustments, reduced an eight-year path to top wages to three years and allowed the right to strike over plant closures, among other significantly enhanced benefits.
The strikes have collectively cost GM, Ford and Stellantis billions of dollars in lost production. Ford said Thursday that the union’s strike has cost it $1.3 billion and the deal, if ratified by members, would increase labor costs by roughly $850 to $900 per vehicle produced.
GM said Tuesday the strike had cost it about $800 million.
The proposed agreements are record-setting for the union, which was far more confrontational and strategic during the talks than in recent history.
The union initiated negotiations with all three automakers at once, breaking from recent history when UAW leaders would bargain with each automaker individually, select a lead company to focus efforts on and then pattern the remaining deals off a leading tentative agreement.
It’s not immediately clear how much the labor deals will increase labor costs for the companies, which had argued that giving in to all of the union’s demands would affect their competitiveness and even long-term viability.
Deutsche Bank recently estimated the overall cost increase of the agreement at Ford to be $6.2 billion over the term of the agreement; $7.2 billion at GM; and $6.4 billion at Stellantis. More