UAW may renegotiate auto worker contracts

Posted by LS

(WTOL) - The Detroit News is reporting the UAW will hold an emergency meeting Wednesday, December 3 to consider possibly re-opening its 2007 contracts with the Big Three automakers.

Sources say union leaders representing workers at General Motors, Ford, and Chrysler plants across the country have been called to Detroit for the session.

One local UAW official who has been invited to the meeting expects the union leaders are going to be asked for their support to reopen the 2007 contracts and to agree to concessions that would help make the automakers financially viable.

In the meantime, Detroit's Big Three executives will lay out their argument for a federal bailout.

The heads of General Motors, Ford and Chrysler are expected to submit detailed plans to lawmakers outlining how they'll restructure and survive in the current economy.

The three automakers are asking congress for a $25 billion bridge loan. Hearings will be held later this week.

Read more from the Detroit News: UAW mulls reopening contracts to aid Big 3.