UAW Members Ratify Chrysler Settlement Pact
This just in from the UAW:
UAW members at Chrysler have ratified a settlement agreement with Chrysler, Fiat and the U.S. Treasury.
Eighty-two percent of production workers and 80 percent of skilled-trades workers voted for the agreement in balloting that took place at UAW Chrysler locations throughout the United States. Ninety percent of office and clerical workers voted in favor of the agreement, and 94 percent of UAW-represented Chrysler engineering workers voted for approval.
“This has been a challenging time filled with anxiety and uncertainty for our membership,” said UAW President Ron Gettelfinger. “Our members have responded by accepting an agreement that is painful for our active and retired workers, but which helps preserve U.S. manufacturing jobs and gives Chrysler a chance to survive.”
UAW Vice President General Holiefield, who directs the union’s Chrysler Department, said: “Once again, UAW members have stepped up to the plate and acted responsibly. If other stakeholders will join us in making difficult sacrifices, Chrysler will have a chance to rebuild and participate in the eventual recovery of the U.S. vehicle market.”
The concessionary settlement agreement, which will take effect on Monday, May 4, meets U.S. Treasury requirements for continued loans to Chrysler Corp. It includes modifications to the union’s 2007 collective bargaining agreement with Chrysler and modifications to the Voluntary Employee Beneficiary Association (VEBA) trust.
The settlement agreement includes commitments from Fiat to manufacture a new small car in one of Chrysler’s U.S. facilities and to share key technology with Chrysler.