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GM says union strike has cost it $800mn in earnings

US carmaker warns United Auto Workers’ walkout could cost $200mn for each additional week

General Motors estimated that a sweeping carworkers strike has so far cost it $800mn in earnings before interest and taxes, with another $200mn lost each week as the walkout drags on.

Chief financial officer Paul Jacobson said the Detroit carmaker — which had forecast in July that it would earn an adjusted $12bn-$14bn in operating income for the year — was withdrawing its guidance due to the uncertainty triggered by the industrial action.

“We’re not going to speculate on the duration or extent of the strike,” he said.

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