Chrysler and the United Auto Workers reached a tentative agreement on a new four-year contract this afternoon, the Wall Street Journal reports, just hours after UAW members walked off the job at Chrysler plants. The agreement is said to follow the pattern set by last month's General Motors pact, which the UAW announced today has been ratified by members.
Chrysler said the deal includes the establishment of a trust to take over health-care costs for union members and retirees. Further details were withheld until UAW members have ratified the pact, both sides said. Talks stalled earlier over differences on job security, outsourcing, and funding for the health-care trust. The strike was suspended immediately.