Fiat Chrysler, United Auto Workers Close to Reaching New Contract Deal: Source
A person briefed on the matter says the United Auto Workers and Fiat Chrysler are close to reaching a tentative contract agreement.
The person, who spoke on condition of anonymity because the talks are private, says the deal could be finalized Saturday.
The person says it includes a $9,000 signing bonus, a promise not to close any factories for the next four years and a commitment to keep making vehicles at a plant in Belvidere, Illinois.
If the deal becomes final, top union leaders and factory-level officials likely will gather next week to vote on it. Then it must be ratified by Fiat Chrysler Automobiles’ 47,000 union workers.
Fiat Chrysler is the last company to settle on a new contract with the union. GM settled in October and Ford reached a deal earlier this month.