24 February 1998
Caterpillar workers deal rejected
CATERPILLAR refused to disclose whether it would make a new attempt to secure a labour agreement with its unionised workers after employees rejected a tentative pact, recommended by leaders of the United Auto Workers Union, on Sunday night.
The agreement would have given workers a pay rise of 2%-4% plus three lump sums, each worth 3% of salary, over the contracts life. It would have also increased pension payments. The deal would have covered four plants.
The initiative is now thought to lie with the company.
- Financial Times 24/02/98 page 6