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Hourly workers at two Tower Automotive plants have voted to accept pay cuts that will ensure their plants remain open as the supplier struggles to emerge from bankruptcy. Tower had asked a judge for the power to cancel union contracts and cut workers as it saw fit, but the acceptance of wage reductions at these two plants have prompted the company to withdraw its request.
Just a few months ago, based on its threat to cancel union labor contracts, Tower Automotive appeared on the brink of a work stoppage - an event that would have halted a significant amount of North American vehicle production. Now we can all breath a bit easier, as the bankrupt supplier has reached a tentative deal with the United Auto Workers and United Steelworkers.
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