The new three-year contract was concluded shortly before 1 September, the date of expiry of the previous agreement, and is valid till 1 September 2015. Last three weeks a vote of ratification took place with almost 80 per cent voting in favour of the new deal.
The new contract will cover more than 16,000 workers in Pennsylvania, Alabama, Illinois, Indiana, Michigan, Minnesota, and Ohio facilities of the company.
According to the agreement workers will get 4.5 per cent wage increase during next three years. In addition, the new agreement protects health care benefits for retirees, which was one of the priorities during bargaining. The contract introduces some changes in plan design and increases contributions. Additionally, certain retirees will receive a series of cash payments.
“This contract was about building toward a lasting future,” said USW International President Leo W. Gerard. “Today, the future is brighter for U.S. Steel employees and retirees because of all of the hard work that went into this agreement.”
The USW represents about 850,000 workers in the United States, Canada and the Caribbean in a wide variety of industries, ranging from glassmaking to mining, paper, steel, tire and rubber to the public sector, service and health care industries.
More details are available on USW website at: www.usw.org