facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- 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.




Comments

Use the comment form below to begin a discussion about this content.


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

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 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