FCA And UAW Reach Tentative Agreement On Labor Contract:

Fiat Chrysler Automobiles (FCA) and the UAW (United Auto Workers) reportedly reached a tentative deal on November 30th. The FCA-UAW National Council will go over the deal later today, and if adopted a ratification vote could start on December 6th by all 47,000 FCA union workers. 

Neither side is offering details on the deal, but according to media reports, a source familiar with the matter said the deal includes a $9,000 signing bonus for workers, along with an additional $4.5 billion in investments from FCA. This is on top of the $4.5 billion of investments that FCA had already announced, including the opening of the new Mack Avenue Assembly Plant, which will produce the next-generation Jeep Grand Cherokee and three-row variant. 7,900 jobs are expected to be added during the 4-year contract period and it is reported that FCA has agreed not to close any plants in the United States, while also slating new products for the Belvidere Assembly Plant, which currently builds the Jeep Cherokee.

FCA is the last of the big three to settle on a new contract with the union. The UAW’s negotiations with General Motors were drawn out resulting in a 40-day strike by GM’s UAW membership, while contract negotiations with Ford went fairly quickly. Hopefully, things go just as well for FCA as they did for Ford. 

Stay tuned to MoparInsiders for more information as it becomes available.