USA: AB InBev reaches agreement with Teamsters union in the US

The Teamsters union said on March 5 its members approved a five-year agreement with Anheuser-Busch InBev, ratifying a deal that includes pay hikes and improved healthcare for workers at the brewer's U.S. facilities, Yahoo Finance reported.

Anheuser-Busch InBev and the Teamsters union had reached a tentative agreement last week that averted a strike.

Under the agreement, which covers 5,000 Teamsters working at Anheuser-Busch breweries in the United States, union members will receive wage increases of $8 an hour, including an immediate $4 an hour raise in the first year, the union said.

The contract also includes a $2,500 ratification bonus, increased pension contributions, and restoration of retirement benefits for active and retired members.