UAW Completes Labor Contract Negotiations with Fiat, an Industrial Info Market Brief

The United Auto Workers (UAW) union has concluded negotiations with the three largest automotive manufacturers in the U.S. after the union membership ratified the contract with the last remaining Detroit Three automaker, Fiat Chrysler, this past week with nearly 71% of the workers supporting the deal. The deal is structured similarly to those with GM and Ford, but Fiat Chrysler was able to get some relief in its health care costs and continued use of temporary employees. The union was able to secure large signing bonuses and a pathway for employees to reach the top of the pay scale in four years, which allowed both sides to walk away content with the deal. Industrial Info is following nine Fiat Chrysler projects valued at over $3.43 billion in investment.