Fiat Chrysler Automobiles and the UAW are finalizing a tentative agreement on a new labor contract that could be announced as soon as Saturday, according to people familiar with the matter.
The automaker and union are close to reaching a deal that includes $9,000 signing bonuses, matching what Ford Motor Co. agreed to pay senior workers, said the people, who asked not to be identified because discussions are still ongoing. The union secured $11,000 ratification bonuses from General Motors following a 40-day strike that ended last month.
Fiat Chrysler has agreed not to close assembly plants during the life of the contract and to assign new product to its factory in Belvidere, Ill., that makes Jeep Cherokee sport utility vehicles and employs almost 3,700 hourly workers. The fate of the facility had been a subject of speculation because the company eliminated a third shift there earlier this year, dismissing more than 1,300 workers.