Chesterton Tribune

 

 

ArcelorMittal outlines terms of most recent contract proposal

Back To Front Page

 

John Brett, president and CEO of ArcelorMittal USA, released a statement on Tuesday outlining the company’s most recent contract proposal to the United Steelworkers.

That statement in full:

“On Friday, Oct. 19, ArcelorMittal USA presented a proposal to the United Steelworkers which includes significant wage increases, a signing bonus, zero increase to healthcare premiums, and substantial capital investment. Based on publicly available information, we believe our offer is consistent with the pattern established by other industry participants and the USW.

“Our latest proposal includes:

* A four-year contract with annual base wage increases of 4 percent, 3.5 percent, 3.5 percent, and 3 percent each year respectively.

* Lump-sum payment of $4,000 following ratification.

* No change to profit sharing.

* No healthcare premiums for active employees and no premium increases for retirees.

* No increase to deductibles, co-pay, or out-of-pocket maximum for active employees or retirees.

* More than $1,800 per year in additional contributions to the Steelworkers Pension Trust.

* A commitment to the long-term competitiveness of our operations by investing a minimum of $2.3 billion over the life of the contract.

“For a typical labor grade three employee working 22 percent overtime (2017 average), this proposal means the employee would earn an additional $14,000 in wages per year by the fourth year of the contract.

“We remain focused on securing a contract that protects our customers, operations, people and communities for the long term, not just during current market conditions. We will continue our commitment to negotiating in good faith with the union until we reach an agreement.”

 

Posted 10/24/2018

 
 
 
 

 

 

Search This Site:

Custom Search