Caterpillar Workers Approve New Contract
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PEORIA, Ill. (AP) — Thousands of workers at Peoria-based Caterpillar have a new, six-year contract after United Auto Workers members voted to ratify the deal over the weekend.
The UAW says 72 percent of members who voted approved the contract. It covers about 9,500 workers in Decatur, Peoria, Aurora and Pontiac in Illinois, as well as York, Pa., Denver and Memphis, Tenn.
A summary provided by the UAW says the deal doesn’t include wage increases for workers hired more than six years ago, but they will get cost-of-living adjustments. More recent hires will get market-based wage increases. The contract also includes a variety of lump-sum payments.
A statement released by Caterpillar on Sunday says the contract provides employees with a competitive wage and benefits package, while helping the company serve global customer needs.
Copyright 2011 The Associated Press