Recently Caterpillar met with United Auto Workers (UAW) union officials and once again failed to agree to a labor contract. This marks yet another extension of a long negotiation that started in December.
UAW has said it is “disappointed” in the health care portion of Caterpillar’s offer while Caterpillar stressed its offer “will keep (the) company and employees competitive long-term.”
“While the union listed concerns and observations related to our proposal at today’s meeting, they offered no proposals for addressing the issues in a manner that will keep our company and employees competitive long-term,” said Chris Glynn, Caterpillar Director of Labor Relations. “The parties have agreed to meet at a future date. Our offer remains in place, and we have no additional offers to make.”
Caterpillar most recently reported a record-breaking second-quarter profit of $552 million and $7.56 billion in sales. The first half of 2004 also set a record, with a profit of $964 million.