Union ratifies new four-year labor deal with US Steel

  • Wednesday, November 14, 2018
  • Source:ferro-alloys.com

  • Keywords:Union, ratify, labor deal, US steel
[Fellow]Union ratifies new four-year labor deal with US Steel

[ferro-alloys.com]US Steel employees represented by the United Steelworkers union have voted to ratify a new four-year labor agreement, the union and company said Tuesday.

The new agreement, which was approved by an "overwhelming" margin, takes effect immediately, the USW said. The contract will run through September 1, 2022.

"It includes a total of 14% in wage increases over the life of the contract, maintains the union's high-quality, affordable health care coverage and strengthens retirement benefits for the USW's 16,000 members at 14 US Steel locations," the union said in a statement. "The contract also allows for much-needed investments in the company's facilities."

US Steel and the USW began negotiations for a new contract in July and reached a tentative labor agreement in mid-October. The union's previous three-year agreement with the company expired September 1.

"We believe these four-year agreements are fair and in the best long-term interest of all of our stakeholders," US Steel CEO David Burritt said in a statement. "We are pleased to have reached this agreement with our USW-represented employees."

(S&P Global Platts)

  • [Editor:王可]

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