Unions on strike
I am the newly named CEO of a large Fortune 500 company. This company has been publicly traded on the NYSE for many years and is well known with the average investor. The company is currently having a difficult time with its earnings.
The 3 unions that represent 90% of the hourly workforce have voted to strike on the first day of the nest month. The workers are unhappy about the hours of work; they allege that they are required to work too much overtime and thus this creates a safety hazard in the workplace. The contracts expired last month and the union was not willing to continue to work under the existing contracts due to these conditions.
What should I do?