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Strike talks fail, Ford losing millions

Car manufacturer Ford has revealed it’s losing $US 35 million a week from a strike near Saint Petersburg, that is now heading into its second week. Management failed to reach an agreement with trade union representatives, when the two sides met on Monday.

The strike is over pay and conditions now heading into its second week.

The trade union is demanding wage increases of around 30 % for next year, and says the strike won't end until the rises are granted. Ford, which has called the demands excessive, says around 40 % of the workforce support the strike.

When it is working, the plant produces 300 cars a day and analysts estimate Ford is losing $ US 5 MLN every day it is out of action.