Slater Steelworkers Ratify Revised Agreement with Delaware Street Capital
04/02/2004 -
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Slater Steelworkers Ratify Revised Agreement with Delaware Street Capital
April 2, 2004 — Wayne Fraser, the United Steelworkers' Ontario/Atlantic Director, said Thursday's ratification of a revised agreement with Slater-purchaser Delaware Street Capital (DSC) clearly shows the commitment by members of Local 4752 to protect pensions and retiree benefits and to save as many jobs as possible.
"The delay in the process and the resulting loss of customers meant that our members had to give up 10% in their base wage rate," said Fraser. "However, we are confident that the incentive plans put in place to replace the 10% will mean that the direct loss to our will be much less as the plant becomes fully operational."
When the contract expires on March 31, 2006, the union will negotiate a new contract based on wage rates established in the February agreement, not the reduced wages.
