facebooktwitterRSS
- Advertisement -
- Advertisement -
 

« News Home

LOCKHEED MARTIN Workers OK contract, end strike



Published: Wed, April 30, 2003 @ 12:00 a.m.


Workers will receive raises, more holidays and a signing bonus.
FORT WORTH, Texas (AP) -- Union workers at Lockheed Martin Aeronautics Co. approved a new three-year contract Sunday, ending a two-week strike called to gain better wages and lower insurance costs.
Members of Machinists Local 776 passed the contract 2,192 to 554. Representatives of the 4,000-member local and Lockheed Martin agreed early Saturday to the new contract proposal.
The strike -- the third since 1984 -- began April 14 after about 4,000 members of International Association of Machinists and Aerospace Workers rejected a proposal with wage increases that some union members said would be consumed sharply by higher health-care costs.
One of the most objectionable provisions, according to workers, was a change requiring greater worker copayments on prescription drugs.
Under the new contract, workers will receive a 4 percent pay raise in the first year and a 3 percent raise in the last two years, plus added holidays. Employees also will get a $1,500 signing bonus and higher retirement pay.
Cap on prescription costs
The dispute over health-care benefits was settled with workers' getting a cap on prescription copayments.
Lockheed Martin Aeronautics President Dain Hancock said a 107 percent increase in health-care costs was the reason behind tightened health insurance benefits.


Don't Miss a Story

Sign up for our newsletter to receive daily news directly in your inbox.

News
Opinion
Entertainment
Sports
Services
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2016 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes