UAW autoworkers officially ratified a new 4-year contract with Fiat Chrysler Automobiles, the union announced on Thursday, ending weeks of contentious negotiations between both sides.
The new deal, announced in October, was welcomed by UAW President Dennis Williams, who compared the outcome of the negotiations to the union’s most successful bargaining agreements.
“The contract ratified today provides our members with a fair wage increase, improvements to health care benefits, the ability to achieve job security and improved profit sharing,” Williams said. “It also provides new technologies and processes and an understanding of the industry that will help UAW members be the best in the business.”
The union represents about 40,000 autoworkers at Fiat Chrysler. The deal includes raises, as well as bonus and lump sum payments, and protects the auto company’s contribution to a health care trust fund. The agreement also offers new job opportunities and increased UAW representation in Fiat Chrysler plants.
The new contract is expected to boost the competitiveness of Fiat Chrysler and help improve the company’s profitability. It also sets the stage for negotiations with the other two Detroit automakers, Ford Motor Co. and General Motors Corp.