Caterpillar Inc said on Wednesday it had reached a tentative agreement with a union that represents workers at four of its facilities, dodging a possible walkout at a time when companies across the United States are dealing with widespread labor shortages.
A row of excavators are seen at the Caterpillar booth at the CONEXPO-CON/AGG convention at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. March 9, 2017. REUTERS/David Becker/File Photosaid on Wednesday it had reached a tentative agreement with a union that represents workers at four of its facilities, dodging a possible walkout at a time when companies across the United States are dealing with widespread labor shortages.
The construction equipment maker's new six-year agreement, which needs to be put to a vote by employees, comes after some union workers had threatened a strike as they negotiated wage increases, improved safety measures and better healthcare benefits. Caterpillar, which has been struggling with margin pressures as input costs keep rising, has more than 100,000 employees around the world.efforts to ensure cost-of-living adjustments keep pace with inflation.
"Members at four locals in Illinois and Pennsylvania will review the tentative agreement and vote at upcoming ratification meetings," United Auto Workers said in a statement on Wednesday.
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