U.S. Steel and Unions Reach Deal
Posted at: 09/02/2012 2:41 PM
| Updated at: 09/02/2012 10:48 PM
As of Sunday afternoon, a tentative labor agreement has been reached between U.S. Steel and its unions.
The proposal was brought forward by the company on Saturday night.
The presidents of the unions reviewed it carefully on Sunday, and by 2:30pm, had voted unanimously to bring it to the membership for a vote.
Members who will vote on it on the Iron Range include Minntac and Keetac employees.
A couple of highlights include no health care premiums and a $2000 signing bonus.
There are also raises: 2% on 9/1/2013 and 2.5% on 1/1/2015
And there is a $500 bonus in April, 2014.
The tentative agreement is for three years. The steelworkers said it's worth over $200 million dollars in wages and benefits.
Local 1938 President Mike Woods said that there will be organizational meetings for their membership over the next few weeks, to go over the details of the agreement.
Steelworkers at Minntac told Eyewitness News on Sunday evening that they are happy that it's settled, and look forward to seeing more in the contract.
USW International President Leo Gerard said, "Throughout the summer, USW members worked tirelessly to achieve an agreement that we believe is fair to both sides. We are proud of the work we have done to ensure a stable future for our members, our retirees, and the company.
U.S. Steel's Chairman and CEO John P. Surma said in a statement: "We are pleased that a tentative agreement has been reached with the United Steelworkers on a competitive three-year contract. We believe that this agreement is in the best interests of our company, our employees, and all of our stakeholders."
Negotiations between U.S. Steel and the unions have been on-going on since June.
Labor talks continued Sunday in Pittsburgh for ArcelorMittal and its unions.
Cliffs and their unions took a break from the negotiating table for the weekend.