Looks like Chrysler is going outta business. The CAW and Chrysler Canada have been negotiating on behalf of their 9,000 workers in a bid to save the company. Ken Lewenza, CAW president, said that the union would not budge on salary issues. Chrysler claims that the union must agree to a $19 cut in wage benefits is necessary to ensure profitability going forward. It seems that no deal will be reach jeopardizing federal funding money.
The negotiations are the final step to save the automaker from bankruptcy. The federal and Ontario governments have already loaned Chrysler Canda $750 million of $1 billion promised. (link)
