Fiat Chrysler Automobiles (NYSE:FCAU/Fiat-Chrysler-Automobiles/" rel="13623">NYSE:FCAU) fell in premarket trade as the United Auto Workers (AUW) union picked the automaker as its first target in contract negotiations with the Detroit Three automakers, which also include General Motors (NYSE:GM) and Ford Motors (NYSE:F).
Shares of the Fiat Chrysler fell as much as 1.2% to 14.39 as of 9:07 a.m in New York.
The UAW’s contracts with Fiat Chrysler’s North American unit, GM and Ford are set to expire at midnight Monday in Detroit.
UAW leaders have called for narrowing or eliminating the pay gap among 140,000 unionized factory workers. Recently-hired UAW workers earn about 40 percent less per hour than union veterans on the assembly line.
FCA Executive Sergio Marchionne has been the most vocal among Detroit CEOs in calling for an end to the current wage system.