Chrysler, UAW Settle After Brief Strike

Chrysler LLC and the United Auto Workers union ended a brief strike after agreeing on a contract similar to one signed recently between the UAW and General Motors Corp., Bloomberg reported.

Following about a six-hour walkout by union members Wednesday, the UAW and Chrysler, the third-largest U.S. automaker, announced a settlement late Wednesday that will bring workers back to plants Thursday, Bloomberg said.

GM employees staged a two-day strike last month before reaching a deal.

Under the contract, Chrysler's $11 billion would create a trust fund giving the UAW control of an estimated $19 billion in future retiree health-care liabilities, Bloomberg said.. Chrysler’s investment, about 60% of those obligations, takes the retiree liabilities off its books.