23 October, 2008The new four-year contract covers some 14,000 steelworkers throughout the United States.
USA: By secret ballot members of the United Steelworkers (USW) overwhelmingly voted in favour of a new, four-year contract covering some 14,000 hourly production, maintenance, office and technical employees at 14 ArcelorMittal plants in the United States.
Contract details include:
- Wages and bonuses: a one-time $6,000 cash payment, $1 an hour general wage increase retroactive to September 1, and four per cent wage increases to come into effect in years two, three and four of the contract.
- Benefits: Improvements in existing medical, prescription drug, dental, vision, life insurance and Sick and Accident (S&A) benefits for all eligible employees and continued funding for a Voluntary Employees Beneficiary Association Trust (VEBA) to provide benefits for retirees who have lost their healthcare coverage in bankruptcy court under previous employers.
- Retirees: Premiums for all retirees will be reduced by approximately thirty five percent and will remain fixed for the term of the proposed Agreement.
- Company investment: ArcelorMittal will make significant capital investment in its U.S. plants and provide for an "Energy Efficiency and Carbon Emissions Task Force" where the union and company will work jointly for the benefit of the industry and the environment.