Chrysler, UAW Reach Agreement to Cancel Strike

After a strike of about six hours Chrysler L.L.C. and the United Autoworkers of America reached a tentative agreement on a new national labor contract. The terms and length of the agreement have not yet been detailed, but the automaker stated it is "consistent with the economic pattern, and balances the needs of our employees and company by providing a framework to improve our long-term manufacturing competitiveness." The strike began on October 10 and affected about 37,000 of Chrysler's approximately 45,000 UAW-represented workers, at 20 of its 25 plants. As established by the UAW contract agreed to by General Motors Corp. in September, Chrysler states its agreement includes a memorandum of understanding to establish "an independent retiree health-care trust." The agreement will be submitted to Chrysler workers for approval.