Cat Extends Labor Contract for Now

    Sept. 1, 2004
    Caterpillar Inc. has extended its contract from 1998 to its workers at its facilities

    Caterpillar Inc. has extended its contract from 1998 to its workers at its facilities in Illinois, Pennsylvania, Colorado and Tennessee, at least until a new agreement is reached with the United Auto Workers (UAW), according to a report by MSNBC.com.

    Caterpillar’s “last, best, and final offer,” which was rejected by union members on August 15, sought to cap wages for new hires to just over $14 an hour, reported The Wall Street Journal. The union cited insufficient healthcare concessions for rejecting it.

    See Caterpillar-Union Standoff Continues

    The union backed down on calling a strike, however, in an effort to resume negotiations.

    Talks are expected to resume again, although no date has been set.

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