After the conclusion of negotiations Wednesday evening, the sit-in workers in Republic Windows and Doors Factory voted to end the 6-day occupation of the plant.
The negotiations among the plant's owners, union leaders and Bank of America continued Wednesday afternoon and came to a final conclusion at night.
According to the agreement, Bank of America would provide 1.35 million U.S. dollars to the factory and JP Morgan Chase added 400,000 dollars. The loan will go directly into a third-party fund whose sole purpose is to pay the workers what is owed them.
It will provide the workers with eight weeks of pay they are owed under the federal WARN Act, two months of continued health coverage and all accrued and unused vacation.
After being informed of the agreement, union leaders and workers met in the plant cafeteria and voted to end the occupation unanimously. The leader of the Union described the outcome of the occupation as "a victory for workers everywhere," and as "an historic victory for America's labor movement."
The Republic Windows and Doors company shut down last week, but failed to give workers 60 days' notice required by law before being closed. About 240 angry workers occupied the plant around the clock since last Friday and required the company and its main creditor Bank of America to meet their obligations to the workers. Their goal was to at least get the compensation that they are owed.