Fiat Chrysler and the United Auto Workers have reached a tentative agreement on a new contract, which still needs final approval from workers.
The United Auto Workers and Fiat Chrysler reached a tentative agreement Saturday on a new four-year contract that includes a total of $9 billion in investments but still needs final approval from workers.
Fiat Chrysler is the last company to settle on a new contract with the union. GM settled Oct. 31 after a bitter 40-day strike that paralyzed the company’s U.S. factories, but Ford reached a deal quickly and settled in mid-November.Talks have focused on Fiat Chrysler for almost two weeks, and the two sides negotiated into the early morning hours earlier this week before taking a break for the Thanksgiving holiday.
Even if union leaders approve the deal, ratification isn’t guaranteed. In 2015, workers voted down the first deal reached with Fiat Chrysler but approved a second one. Ford has about 18,500 workers hired after 2007 who will get big pay raises with the new contract, compared with GM’s 17,000. Fiat Chrysler has over 20,000 union employees hired after 2007.
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