Caterpillar Workers Say Yes To Agreement With 27% Raise, $6,000 Bonus

Caterpillar avoided a strike with the ratification of a new agreement.

Reuters reports:

“The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar had voted in favor of a new six-year labor contract with the firm, preventing a strike at the world’s largest maker of construction and mining equipment.

Unionized workers unanimously accepted the deal that outlined a 27% combined wage increase and lump sums over the six-year period, a bump in employer contributions to retirement plans, and a $6,000 bonus.

‘The terms of the contract are effective immediately (March 13),’ UAW said in a statement on Sunday.

Additionally, the latest deal included a moratorium on plant closures after years of CAT shifting production to other U.S. facilities and shuttering its Aurora, Illinois factory in 2017.

The contract covers roughly 7,000 union workers at plants in central Illinois and a parts distribution center in York, Pennsylvania. In a notice seen by Reuters, 71.5% of union members voted to accept the tentative agreement. The union did not disclose how many workers voted.”

For the rest of the story, visit Reuters here.

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