9 March, 2011UAW members approved a new six year agreement with Caterpillar Inc.
UNITED STATES: Members of the IMF affiliate United Auto Workers (UAW) ratified with a majority of votes a new six year agreement with Caterpillar Inc.
The newly adopted agreement covers approximately 9,500 hourly production and maintenance workers at Caterpillar facilities in Illinois, Colorado, Pennsylvania and Tennessee.
The UAW explained that the deal doesn't include wage increases for workers hired more than six years ago, who will get their cost-of-living adjustments. More recent hires will get market-based wage increases. The contract also includes a variety of lump-sum payments.
"This is another example of unions and business working together, recognizing each others' needs, and finding creative solutions to keep good manufacturing jobs in the U.S. in this very competitive global economy," UAW President Bob King said about the agreement.
The negotiations started on December 15, 2010. The old agreement was to expire at midnight on Monday, February 28, 2011 and both sides reportedly met over the last weekend in February with a continued 12 hour session on Monday. The new agreement remains valid till March 1, 2017.