INDIANAPOLIS, Ind. – Carrier has reached an agreement with the United Steelworkers union to provide severance packages to the 1,400 workers who will be displaced by the company’smove to Mexico in 2017.

The agreement, which was released Wednesday, says the employees will receive a one-time payment and six months of medical insurance. The Indy Star reports that the one-time payment will be equal to one week for every year of service.

The agreement also allows employees to receive reimbursement for education and technical training. In addition, it calls for an extension of the labor contract in place at the company.

Employees will also be eligible to accrue a monthly performance bonus up until their separation date.

“Carrier recognizes the impact on employees, their families and the community,” said company spokeswoman Michelle Caldwell in a statement. “We appreciate their hard work and are pleased to have worked with the USW to provide certainty through a comprehensive benefits package designed to help ease the transition.”