NEW YORK (TheStreet) -- Shares of Fiat Chrysler (FCAU) - Get Report are down 4.31% to $12.42 in afternoon trading on Monday following reports that the labor deal the company proposed with the United Auto Workers labor union ran into opposition from union members.
Though final voting results from the 37 UAW local union affiliates is not expected until the middle of this week, early voting suggests that the agreement could be rejected, according to Reuters.
Detroit's big three auto companies are in the middle of contract negotiations with the UAW to extend a labor agreement for four years.
Fiat Chrysler has 40,000 UAW-represented workers and the new labor agreement could still be ratified by the majority of its workers.
On September 15, the UAW agreed to a tentative contract extension with Chrysler, Ford (F) - Get Report and GM (GM) - Get Report that would close the pay gap between the highest and lowest paid plant workers.