ATI Labor Deal Includes Profit-Sharing Plan and Health Insurance Contribution
02/29/2016 - Unionized workers at specialty steelmaker Allegheny Technologies Inc. will have to pay more for their health insurance but could share in the company’s profits, under the terms of a tentative, four-year labor deal, reports the (Pittsburgh) Tribune-Review newspaper.
The newspaper, which has details of the pending deal, said the 2,200 United Steelworkers at Allegheny Technologies Inc. (ATI) would lose their free health insurance and would have to begin contributing 10 percent of the cost, with the company picking up the remaining 90 percent.
However, the contract calls for a signing bonus and the establishment of a profit-sharing plan based on quarterly performance. Workers are to vote on the contract 1 March.
The union and the company have been without a new contract since 1 July. In August, ATI locked out workers after the union let lapse a company-mandated deadline to accept what it said was its last, best and final offer.
The National Labor Relations Board, which also has to approve the agreement, has said the lockout was improper. As part of the agreement, the company wants the union to withdraw all of its grievances, the Tribune-Review reported.
However, the contract calls for a signing bonus and the establishment of a profit-sharing plan based on quarterly performance. Workers are to vote on the contract 1 March.
The union and the company have been without a new contract since 1 July. In August, ATI locked out workers after the union let lapse a company-mandated deadline to accept what it said was its last, best and final offer.
The National Labor Relations Board, which also has to approve the agreement, has said the lockout was improper. As part of the agreement, the company wants the union to withdraw all of its grievances, the Tribune-Review reported.
