Caterpillar union workers vote in favor of six-year labor agreement

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(Reuters) -The United Auto Workers (UAW) union said members at four local chapters working at Caterpillar have voted in favor of a new six-year labor contract with the firm, preventing a strike at the world’s largest construction and mining equipment-maker. Unionized workers unanimously accepted the deal that outlined a 27% combined wage increase and lump sums over the six-year period, a bump in employer contributions to retirement plans, and a $6,000 bonus. “The terms of the contract are effective immediately (March 13),” UAW said in a statement on Sunday. Additionally, the latest deal includ…

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