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MAY 19, 2012
500 Lockheed workers agree to new union contracts similar to those offered Machinists About 500 union-represented employees of Lockheed Martin in Fort Worth have ratified new labor contracts similar to the one rejected last month by the Machinists union.
Lockheed reported Saturday that majorities of members of the unions representing about 70 plant electricians and 430 office professional employees had ratified four and five-year contracts respectively.
In each case the unions agreed to terms cited most by striking members of the Machinists union, who walked off the job April 23 after overwhelmingly voting down the company’s final proposal.
International Brotherhood of Electrical Workers (IBEW) members voted on their proposal Friday and the Office and Professional Employees International Union (OPEIU) approved the contract Saturday.
The contracts take effect Monday.The union members will each receive a $3,000 contract ratification bonus and general wage increases over the term of the agreements, cost of living adjustments and a sizable increase in future pension benefits for existing employees.
However, employees hired after this time will not be eligible for a traditional pension plan, but will receive a company-funded retirement savings plan. The electricians and office workers also agreed to health care benefits that include just two options, an HMO administered by Aetna and the LM Health Works.
- Bob Cox
500 Lockheed workers agree to new union contracts similar to those offered Machinists About 500 union-represented employees of Lockheed Martin in Fort Worth have ratified new labor contracts similar to the one rejected last month by the Machinists union.
Lockheed reported Saturday that majorities of members of the unions representing about 70 plant electricians and 430 office professional employees had ratified four and five-year contracts respectively.
In each case the unions agreed to terms cited most by striking members of the Machinists union, who walked off the job April 23 after overwhelmingly voting down the company’s final proposal.
International Brotherhood of Electrical Workers (IBEW) members voted on their proposal Friday and the Office and Professional Employees International Union (OPEIU) approved the contract Saturday.
The contracts take effect Monday.The union members will each receive a $3,000 contract ratification bonus and general wage increases over the term of the agreements, cost of living adjustments and a sizable increase in future pension benefits for existing employees.
However, employees hired after this time will not be eligible for a traditional pension plan, but will receive a company-funded retirement savings plan. The electricians and office workers also agreed to health care benefits that include just two options, an HMO administered by Aetna and the LM Health Works.
- Bob Cox
