Automotive News reports that the new contract between Chrysler and the UAW includes a pledge by the union not to strike against the company until at least 2015.
The UAW has agreed not to strike Chrysler LLC until September 2015.
The Detroit automaker has extended its contract with the union, according to documents filed yesterday in U.S. Bankruptcy Court in New York. Chrysler filed for Chapter 11 reorganization on April 30, and seeks to sell its valuable assets to a new automaker run by Fiat S.p.A.
The contract, approved April 29, extends the UAW’s 2007 Chrysler agreement to Sept. 14, 2011. From that date until Sept. 14, 2015, any changes to labor agreements will be determined by binding arbitration.
The contract also includes lower wages for all employees hired under the contract and lower benefits for all employees, old and new.