Detroit, Michigan – The United Auto Workers Union (UAW) has reached a settlement with Chrysler, Fiat and the U.S. Treasury Department, which now goes to a ratification vote with workers at Chrysler by April 29. A similar agreement was reached and ratified with Chrysler and the CAW in Canada on April 26.
The settlement meets the requirements of U.S. Treasury Department loans to the company, following the rejection of Chrysler’s February 17 viability plan by the government. At the time, President Obama gave Chrysler workers and the company a second chance, union officials said.
The agreement includes modifications to the union’s 2007 collective bargaining agreement and the Voluntary Employee Beneficiary Association (VEBA) trust.
“We recognize this has been a long ordeal for active and retired auto workers, and a time of great uncertainty,” said UAW president Ron Gettelfinger. “The patience, resolve and determination of UAW members in these difficult times is extraordinary, and has made it possible for us to reach the agreement we will present to our membership. ”