Chrysler LLC reached a deal on concessions with the United Auto Workers late Sunday night, clearing the way for a deal with Fiat SpA, while General Motors Corp. prepared to announce a major restructuring today -- in what is set to be one of the most significant weeks in the history of the U.S. auto industry.
The settlement agreement, subject to ratification by UAW members at Chrysler, includes a revision of the 2007 health care deal, and members must approve the deal by Wednesday.
"We recognize this has been a long ordeal for active and retired auto workers and a time of great uncertainty," said UAW President Ron Gettelfinger. "The patience, resolve and determination of UAW members in these difficult times is extraordinary and has made it possible for us to reach the agreement we will present to our membership."
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