Steve Grzanich has the business news of the day with the Wintrust Business Minute.

Ford has laid off nearly 250 workers at its Chicago Heights stamping plant because of the ongoing United Auto Workers strike. The facility provides parts to the Ford Assembly Plant, where 6,000 workers joined the national strike last week. Ford also furloughed about 85 workers in Ohio at an engine plant that also supplies its facility on Torrence Avenue. Workers at a GM facility in Bolingbrook and a Stellantis operation in Naperville had previously joined the nationwide UAW strike. A new study says the walkout has already cost the auto industry nearly $4 billion.

Also, Wells Fargo has plans to expand its retail footprint in the Chicago area. Listen for more below: