On this day: 04-26-2009
Chrysler and the autoworkers´ union agree to deal
As part of the deal, the UAW agreed to let Chrysler reduce the amount of money it would pay toward healthcare costs of its retired workers. The month before the deal was announced, President Barack Obama issued an ultimatum to Chrysler that it must undergo a fundamental restructuring and shrink its costs in order to receive future government aid. A tentative deal that met government requirements for the struggling auto manufacturer to receive more federal funding was needed.