American Axle & Manufacturing Holdings Inc posted a bigger-than-expected quarterly loss on Friday, hit by a strike at five U.S. plants, and it repeated threats to close the factories unless workers accept steep wage cuts. About 3,650 employees represented by the United Auto Workers union went on strike at the plants in New York and Michigan on February 26, after the union and the company failed to reach a new labor contract. The company has said it must cut wages and benefits that it says run three times higher than competitors, a demand which has been rejected by the UAW. American Axle reported a first-quarter loss of $27 million, or 52 cents per share, compared with year-earlier net income of $15.7 million, or 30 cents per share.
See "American Axle Posts Quarterly Loss Amid UAW Strike", Reuters, The New York Times, April 24, 2008