Union Announces Labor Deal With Chrysler
According to MarketWatch.com:
The UAW and the automaker reached a labor agreement Wednesday, according to the union, just hours after Chrysler union workers went on strike for the first time since 1997.Earlier this week, the UAW had set a deadline of Wednesday at 11 a.m. Eastern for a new deal, but the talks stalled. Several analysts had for a longer strike than the one that shut down General Motors Corp. and GM back in 2005, hourly workers easily could have found themselves stuck on the picket line for days or even weeks.But with a tentative deal in hand, union workers will be notified to report to work on their next available shift, the UAW said."Once again, teamwork in the leadership and solidarity in the ranks has produced an agreement that protects jobs for our communities and also protects wages, pensions and health care for our active and retired members," General Holiefield, head of the UAW's Chrysler division, said in a statement.Details of the agreement that covers 45,000 union-represented employees will become available once it's ratified. Chrysler said, along with some other changes, the new deal will allow the company to establish an independent retiree health-care trust...click to continue.
