New deal for Lockheed Martin machinists
June 29, 2012, Fort Worth, Tx. - Lockheed Martin machinists have approved a new labour deal that includes a $2,000 bonus and annual pay increases starting at 3 per cent the first year.
Members of the International Association of Machinists and Aerospace Workers voted overwhelmingly Thursday to approve the four-year agreement.
Members of Machinists Local 776 have been on strike since April 23 after union members rejected an offer from Lockheed Martin that would have raised health care costs and eliminated pensions for new hires. Local 776 represents about 3,600 workers.
Union President Paul Black said 81 per cent of nearly 2,300 voters approved the deal
The four-year agreement doesn't change basic health plans. Workers hired after July 2 wouldn't get traditional pensions. Instead, they would have a retirement savings plan and contributions from Lockheed Martin.