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Unions on strike

I have a problem to solve: 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?

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Because this is a Fortune 500 company you have to first think of your investors of the company and how a possible strike will effect the corporation in terms of profit, etc. Under the business judgement rule (persumption that any decision that an officer of the company makes is in the best interest of the company) any decision you make will probably be ...

Solution Summary

Unions on strike scenario is featured.