Chrysler, auto workers reach tentative agreement
The United Auto Workers (UAW) and Chrysler Group LLC have reached a tentative agreement on a four-year labor contract for the No. 3 U.S. automaker’s 26,000 hourly production workers, the union said this morning. The agreement is the first labor pact for Chrysler since its 2009 bankruptcy and federally funded bailout, Reuters reported. The agreement follows deals between the UAW and Chrysler’s Detroit rivals, General Motors Co. and Ford Motor Co. In a press release, UAW President Bob King said the Chrysler contract will create 2,100 U.S. jobs and commit the company to a $4.5 billion investment in vehicle production.