U.S. union hopes Fiat Chrysler labor pact ratified in 10 days

By Bernie Woodall

DETROIT (Reuters) - United Auto Workers President Dennis Williams on Friday said he hopes to have ratification votes on a proposed labor contract for 40,000 U.S. Fiat Chrysler Automobiles (NYSE: FCAU) workers completed in 10 days.

Williams, speaking with reporters after UAW leadership approved the proposed contract for membership ratification, did not say whether the union would next focus labor talks with either Ford Motor Co (NYSE: F) or General Motors Co (NYSE: GM).

The proposed contract would narrow the gap between the lowest and highest paid UAW worker U.S. auto factory workers.

Williams also said the contract provides for "targeted" retirement incentives at some plants. He did not say if those plants would be the ones with the most higher-paid veteran workers in a two-tier pay structure. He also did not disclose details of the retirement incentives.

Earlier this week, Fiat Chrysler Chief Executive Sergio Marchionne said the gap between veteran and newer "second-tier" workers would be eliminated over time. It is not going to be eliminated in the terms of the proposed four-year contract.

Williams said the separate ongoing labor talks between the union and Ford and GM are progressing well. He did not give an estimate of when he expects all contracts with the Detroit Three automakers to be wrapped up.

Fiat Chrysler has about 36,600 UAW-represented hourly plant workers and about 3,400 union white-collar employees.

(Reporting by Bernie Woodall; Editing by Leslie Adler)

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