United Steelworkers' Members Ratify Four-Year Agreement With Arconic

The United Steelworkers or USW said that its members ratified a new, four-year master contract with Arconic (ARNC) covering about 3,400 workers in Davenport, Iowa; Alcoa, Tenn.; Lafayette, Ind.; and Massena, N.Y.

The newly ratified contract increases wages by 22 percent over the next four years, provides $4,000 in essential worker appreciation bonus paid in two payments, adds Martin Luther King Jr. Day as a holiday, increases shift and schedule premiums, improves vacation for new hires, increases retirement income security, raises weekly Sickness & Accident benefits, adopts a formulary for specialty drugs and maintains the current medical coverage with no increases in employee premiums, deductibles or office visit copays.

The new agreement strengthens requirements that the company eliminate the known risks posed by equipment, applies the hierarchy of controls, improves language on personal protective equipment, secures and strengthens the activities of the Union-Management Health & Safety Committee and enhances employee rights to stop work that they believe to be unsafe or unhealthy.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Health insurer Humana Inc. reported Wednesday a net loss for the fourth quarter that slightly widened from last year, hurt primarily by charges associated with productivity initiatives, despite 6.6 percent revenue growth. Adjusted earnings for the quarter topped analysts' expectations, while quarterly revenues missed it by a whisker. South Plainfield, New Jersey-based Two Rivers Coffee is recalling its peanut butter single serve hot chocolate pods citing an undeclared peanut allergen, the U.S. Food Drug Administration said. The recall involves peanut butter single serve hot chocolate pods distributed as "Brooklyn Bean Peanut Butter Cup Hot Cocoa", "Pingo Peanut Butter Cookie Hot Chocolate" and ... Shares of Novartis AG were losing around 2 percent in the early morning trading in Switzerland after the drug major reported Wednesday sharply lower profit in its fourth quarter with weak sales as well as the absence of prior year's hefty Roche income. Adjusted earnings, however, topped market estimates, while top line missed their view. Further, the company announced higher dividend...
Follow RTT