TU-TESL

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According to CNBC, the 2019 labor negotiations between UAW and Detroit's three major automakers ended with a four-year new agreement with Fiat Chrysler. Fiat Chrysler is the last of Detroit's three major automakers to sign a labor agreement with the American workers union. The approval also marks the end of an unprecedented round of labor negotiations at the UAW. On October 26, the UAW signed a new four-year labor contract with general motors. The approval of the deal ended a 40 day strike by the union that began on September 16, costing GM more than $3 billion. On October 30, the auto and the UAW reached a preliminary agreement on a new labor contract without a strike. According to the union, the four-year deal includes Ford's $6 billion new investment and the creation or retention of 8500 U.S. jobs. In addition, around the labor agreement, GM also filed a fraud lawsuit against Fiat Chrysler, saying it has bribed the relevant personnel of the UAW for many years to gain a competitive advantage by sabotaging the negotiation process, which has cost GM billions of dollars. "It's a drama I've never seen. That's for sure, "said Colin lethbodi, a labor consultant and longtime Fiat Chrysler negotiator. In general, Detroit's three major automakers retain most of the flexibility they gain in contract negotiations, but have not made much progress in expanding medical costs and temporary workers. The union received $18.2 billion in new factory investment and will create or retain 25400 jobs in the United States over the next four years. The government allowed the closure of several factories. So far, negotiations between the UAW and GM have been the most contentious. Workers continued to strike, and GM still closed three factories. However, industry insiders said that FCA's labor cost increase is likely to be the largest, as the number of new employees (also known as "entry employees") hired by FCA has increased significantly in labor contracts. The American workers' Union said on Wednesday that 71 percent of its members voted for a new labor agreement with Fiat Chrysler. In contrast, GM and Ford had 57% and 56% approval ratings, respectively. UAW's new labor contract with Fiat Chrysler includes the Italian American automaker's $9 billion investment in its U.S. manufacturing industry, including $4.5 billion previously announced, and the creation or retention of 7900 U.S. jobs during the term of the agreement. Under the new Fiat Chrysler contract with the union, new workers will receive the same medical benefits as old workers. This makes them more consistent with GM and Ford workers. The agreement, which is based on an agreement approved by GM and Ford, also includes a $9000 bonus, which is equivalent to that of Ford employees, but is $2000 less than GM employees. GM agreed to invest $7.7 billion in existing plants to add or retain 9000 jobs, while Ford's agreement includes $6 billion in investment and 8500 new or retained jobs. Despite the new deal, analysts believe the long-term labor costs of Detroit's big three automakers will increase, while they have done nothing to ease rising health costs. This is bound to cause hidden dangers.