Members will vote on the four-year contract – which includes a total of $9 billion in investments, a $9,000 signing bonus, a promise not to close plants for the next four years, and the requirement to continue manufacturing vehicles at a plant in Belvidere, Illinois, starting Friday. If the UAW Fiat Chrysler National Council approves the interim agreement on Wednesday, members of the ranking will begin voting later this week. Fox Business Briefs: Fiat Chrysler merges with Peugeot`s owners to create one of the world`s largest automakers, with a market value of $48 billion; Ford has reached an interim agreement with the Auto Workers Union to avoid a strike. The MP`s vote on the new treaty began on Friday. If ratification is successful, the proposed agreement – which provides most workers with less expensive health care, advanced wages and $9,000 signing bonuses – will mark the end of a season marked by heated work discussions between the union and the Detroit Three. But experts said Fiat Chrysler`s ratification could be a challenge after the city`s first interim agreement was rejected in 2015. So far, limited results appear to be favourable to ratification. Local 160, which represents 1,335 workers at Warren`s GM Tech Center, voted Sunday in favor of the preliminary agreement with 85% « yes » to ratification. The proposed interim agreement makes some improvements. It reduces the time for workers to leave the system at two speeds. It eliminates caps on incentive cheques, which can often be between $7,000 and $10,000 per year.
It grants workers a 3 to 4 percent pay increase each year of contract, without requiring them to pay more for health care. The proposed agreement allowed the UAW-Ford negotiating team to set a cap of 8% for the number of temporary workers For Ford employs across the company and 10% on a given site, unless otherwise authorized by the national parties. Local 668, which represents 476 union employees at GM Saginaw Metal Casting Operations, also voted on Sunday. It published the results on social media: 73% of craftsmen and 75% of production workers voted in favour of ratification.