Mexican Media Brands
Brexit Delayed to the End of October
The European Union has agreed to extend the formal deadline for the U.K. to leave the bloc to Oct. 31.
#labor #economics
Share
The European Union has agreed to extend the formal deadline for the U.K. to leave the bloc to Oct. 31.
Britain voted for Brexit in June 2016. That set in motion a formal process that called for the U.K.’s departure on March 29. But Britain’s government has been deadlocked over how to execute the plan without incurring new tariffs and trade restrictions with the EU, its largest export market.
Brexit already had been delayed to April 12 by a fight over Prime Minister Theresa May’s compromise proposal. Hardliners favor the clean break of a no-deal Brexit, even if it means new taxes on imports and exports. Moderates are still searching for a way to exit the bloc but retain the duty-free perks of EU membership. Still others want a new vote on whether to leave at all.
Several carmakers with production facilities in England have begun shutdowns intended to help them ride out supply chain disruptions based on the timing of the original exit date. Most have been issuing increasingly pointed warnings that the continuing Brexit drama is making plant closures more likely.
RELATED CONTENT
-
On the Management Side: Dealing with Rule Breakers
When an employee breaks the rules, what should his or her boss do about it?It’s an important question because the answer can affect the employee’s future behavior, his department’s morale—even a company’s relationship with a union, if one is involved.Every manager, therefore, should review his disciplinary methods periodically to make sure they are producing the most constructive results.
-
GM, PSA Execs Rush to Build Support for Opel Sale
Top executives from General Motors Co. and PSA Group are scrambling to build support among alarmed European government and labor leaders for a plan to integrate GM’s Opel unit with PSA.
-
UPDATE: UAW, GM Reach Tentative Labor Deal
General Motors Co. and the United Auto Workers union have reached a possible deal on a new four-year labor contract covering some 48,000 of the union’s hourly workers in the U.S.