Chrysler strikes deal with union in survival bid

By Chris Georg
15:36, April 27th 2009
24 votes
Vote this story

   Washington - Troubled carmaker Chrysler, the smallest and most endangered of the "Big Three" US automakers, announced a deal with union workers that could help it meet Thursday's government deadline to prove itself viable or face bankruptcy.

   Sunday's tentative contract with the United Auto Workers must still be ratified by union members. Canadian union workers voted Sunday to accept an earlier deal with similar concessions on wages and benefits.

   Meanwhile, Chrysler is still seeking billions of dollars in concessions from creditors before Thursday's deadline, which was imposed by US President Barack Obama's government in exchange for interim financing to keep the company afloat earlier this year.

   The union deal is expected to help Chrysler in negotiations to form a partnership with Italian carmaker Fiat, which the Obama administration has advocated.

   Meanwhile, General Motors, the largest of the Big Three, facing its own June 1 government deadline to prove viability or face bankruptcy, was expected to announce further cost-cutting moves on Monday, the Bloomberg financial news agency reported.



© 2007 - 2009 - DPA/eFluxMedia
Tags: Chrysler
dotclear

Other News in

dotclear
Latest videos in Business
China eyes fewer car, steel...
Business Update: Asian stocks...
Business Update: Jobless...
The Fed's big fix
Generic drug industry outlook

dotclear
Business You are here: Business
» World   » Business   » U.S.   
E-mail To A Friend Print RSS Text size: Decrease font size Increase font size
dotclear
dotclear
dotclear

Interested In This Topic?

News Alert will keep you informed. Find out more.
dotclear
Photos Gallery
dotclear