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Chrysler, unions make progress as deadline nears


U.S. automaker Chrysler LLC showed signs of progress with its unionized workers in its battle to stay alive on Sunday with just days left to complete deals to slash labor and debt costs or face bankruptcy.

No. 1 U.S. automaker General Motors Corp is also restructuring in an effort to secure the government funding it needs to stay in business, and was expected to announce a fresh round of cost cutting on Monday.

Chrysler -- 80 percent controlled by private-equity firm Cerberus Capital Management LP -- has been given until April 30 by the Obama administration to agree on cost-cutting deals with its creditors and the unions, plus cement an alliance with Italian automaker Fiat SpA.

Failure to meet those goals could shut off access to U.S. government aid for Chrysler, leaving it facing potential liquidation.

In a first significant step toward meeting those goals, the Canadian Auto Workers union on Sunday ratified a new collective agreement with the automaker that will save Chrysler about C$240 million ($198 million) annually.

The union said its members voted 87 percent in favor of the new agreement. Chrysler has 8,000 unionized workers in Canada.

"Our members understand better than anyone the current turmoil of the domestic auto industry," said CAW President Ken Lewenza. "The high acceptance of this agreement is a recognition that although workers did not cause this crisis, we all have an interest in maintaining good jobs and ensuring the auto industry remains central to the overall Canadian economy."

The United Auto Workers union announced later it had also reached a tentative agreement with Chrysler, Fiat and the U.S. government on further concessions to a contract and a healthcare trust agreed with the automaker in 2007.

The UAW said that deal must be ratified by Wednesday and meets conditions mandated by the U.S. Treasury as part of an emergency loan program for Chrysler.

"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," UAW President Ron Gettelfinger said in a statement.

The UAW represents about 26,800 Chrysler workers in the United States. The company also has a contract buyout offer on the table for those workers that expires on Monday.

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18.09.2017
Chrysler, unions make progress as deadline nears -  Знаменитости Chrysler, unions make progress as deadline nears шоу бизнес последние эротические фотографии  эротика лучшие
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