Details of Chrysler-UAW agreement |
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Thu, 11 Oct 2007 23:05
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(AP) - Chrysler LLC's four-year contract with the United Auto Workers has provisions similar to the one ratified by General Motors Corp. workers, people who were briefed on the details told The Associated Press:HEALTH CARE: Chrysler would pay $10 billion to $11 billion into a union-run trust that will pick up $19 billion in future retiree health care expenses.NEW HIRE WAGES: A two-tier wage scale, with new hires paid around $14 per hour, or half the current starting wage of an assembly line worker. The lower wage would cover about 11,000 'noncore' workers who do not build cars or parts. People now in those jobs would be offered buyout and early retirement packages.BONUSES: $3,000 signing bonus, plus lump-sum payments of 3 percent of pay in the second year, 4 percent in the third, and 3 percent in the final year.JOB SECURITY: Product guarantees for U.S. plants through the life of the contract.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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