(WBBM NEWSRADIO) -- Caterpillar has reached a tentative agreement with unionized workers that calls for an end to plant closures at the heavy equipment manufacturer that used to be based in Illinois.
A vote is slated for next week. The six-year deal comes days after the current agreement expired on Wednesday.
The Wall Street Journal reports that under the proposal, United Auto Workers members will get raises plus bonuses of $6,000 dollars once it’s ratified.
The deal would also increase employer contributions to retirement plans for 7,000 workers. A union committee calls the proposal a slap in the face.
After spending decades in Peoria, Caterpillar moved its headquarters to Deerfield in 2017 and then relocated to Texas last year.
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