Chrysler and United Auto Workers (UAW) recently reached an agreement on a new four-year contract following several weeks of negotiations. This new contract will affect nearly 47,000 unionized workers at Chrysler plants around the country, and is considered a major win for both sides.

One of the key points of the new contract is a significant increase in pay for workers over the next four years. Under the new agreement, entry-level workers will see their wages increase from $17 an hour to $22 an hour by the end of the four-year period, while veteran workers will receive an 8% increase in their base pay over the life of the contract.

Another major point of the contract is a $4.5 billion investment in new plants and upgrades to existing facilities. This will create more than 7,000 new jobs over the next four years, and is expected to help revitalize the struggling auto industry in the United States.

In addition to the pay increases and plant investments, the new contract also includes improvements to worker benefits and job security. Workers will now have more say in scheduling, and will have access to better healthcare benefits and retirement plans.

Overall, the Chrysler-UAW contract represents a positive step forward for both the company and its workers. It will help ensure that Chrysler remains competitive in a rapidly changing industry, while also providing workers with the stability and security they need to succeed.