After General Motors and Ford, Chrysler is the last of Detroit's Big Three to reach an agreement with the United Auto Workers union.
The new four-year contract, which is the first after Chrysler’s 2009 bailout and the Fiat deal, covers UAW’s 26,000 Chrysler workers and will create 2,100 new jobs, with Chrysler committing to invest US$4.5 billion in its US plants.
“This agreement is the latest in a remarkable turnaround for Chrysler”, said UAW vice president General Holiefield. Chrysler and UAW wouldn’t comment further on details of the new contract, which still has to be ratified by the UAW members.
The deal, however, is expected to be similar to the ones UAW made with Ford and GM. It will probably be less lucrative, though, as in contrast to the former two, which posted profits in 2010, Chrysler reported losses.
Story reference: CBC News
