Automotive News reports that the UAW has reached an agreement with Chrysler to close down the jobs bank for autoworkers at the struggling company to help them survive lean economic times:
 

Workers in the Jobs Bank will be laid off Monday and have to go on state unemployment and supplemental pay, said the UAW official who asked not to named because the union has not made an official announcement…

Chrysler UAW locals were notified of the decision in a letter Thursday from UAW Chrysler department vice president General Holiefield. A UAW spokesman could not be reached for comment today.

Laid off workers are placed in the jobs bank and receive nearly 100% of their regular pay. If forced to go on unemployment and supplemental pay instead, those workers receive about two-thirds of their regular pay. The UAW had previously agreed to close the jobs bank, but there are still details to be worked out with each company. The union is also negotiating with General Motors over the closing of the jobs bank for their workers.