Chrysler and the United Auto Workers have officially agreed to a new four-year labor contract as the rank and file have voted in favor of the new agreement. A total of 54.8 percent of all Chrysler UAW workers gave the agreement a 'yes' vote.

The agreement helps keep wages in check for Chrysler, while providing some guarantees to blue collar workers. The pact calls for up to 2,100 additional jobs, which comes on top of the 2,500 jobs already added since 2009. Those workers will also receive improved profit sharing when the black ink begins to flow. The contract promises a more transparent bonus system calculated directly from profit performance. Chrysler also promises to increase investment in U.S. facilities by an additional $1.3 billion, bringing the total investment in plants to $4.5 billion since Team Pentastar's 2009 bankruptcy.

Chrysler CEO Sergio Marchionne was understandably happy to have the negotiations behind him, and he praised workers and the UAW. Marchionne added that the pain of bankruptcy won't be forgotten, adding that the contract "rewards [workers] for the current and potential future success of the Company while ensuring Chrysler Group will be able to remain competitive."

After very little fanfare and few bumps in the road, all members of the Detroit Three now have fresh UAW contracts in place. It's hard to believe that there were no strikes, few threats and minimal theatrics, and you'll hear no complaints from us. We'd rather talk about cars than contracts any day of the week. Hit the jump to read over the Chrysler press release.Continue reading UAW ratifies new four-year Chrysler labor contract

UAW ratifies new four-year Chrysler labor contract originally appeared on Autoblog on Wed, 26 Oct 2011 18:28:00 EST. Please see our terms for use of feeds.


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