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Chrysler workers give slim OK to wage cuts

Chrysler Corporation workers narrowly approved a $46-a-week pay cut followed by a 20-month wage freeze that provides $622, million in financial help for the company, the United Automobile Workers said. Ratification of those concessions was crucial to chrysler's bid for the $400 million in federal loan guarantees needed to avoid bankruptcy. A 15-day congressional oversight period following tentative approval of the federal aid expires today (Feb. 3), but Chrysler officials have said they need more time.