Cleveland-Cliffs Announces Ratification of New Labor Agreement with the USW Covering 12,000 Union Members
October 12 2022 - 1:57PM
Business Wire
Cleveland-Cliffs Inc. (NYSE: CLF) announced today that
its new labor agreement with the United Steelworkers (USW) has been
ratified. The contract covers approximately 12,000 USW-represented
employees at 13 operating locations, and has a 4-year duration from
its starting date of September 1, 2022. Combined with the
previously ratified labor agreement covering 2,000 USW-represented
employees at the Company’s mining and pelletizing operations,
Cliffs and the USW have concluded the renegotiating cycle with
contracts valid through September of 2026.
Lourenco Goncalves, Chairman, President and CEO said,
“Cleveland-Cliffs is a people oriented company. These labor
agreements, covering more than half of our entire workforce,
support that statement. Our workforce has made these past two years
possible, including navigating a monumental transformation and
growth, overcoming the challenges of a pandemic, and adapting to an
ever-changing business climate. Going forward, we will continue to
promote our employees’ well-being as the basis of our success, for
the benefit of our clients and our long-term shareholders.”
About Cleveland-Cliffs Inc.
Cleveland-Cliffs is the largest flat-rolled steel producer in
North America. Founded in 1847 as a mine operator, Cliffs also is
the largest manufacturer of iron ore pellets in North America. The
Company is vertically integrated from mined raw materials, direct
reduced iron, and ferrous scrap to primary steelmaking and
downstream finishing, stamping, tooling, and tubing. We are the
largest supplier of steel to the automotive industry in North
America and serve a diverse range of other markets due to our
comprehensive offering of flat-rolled steel products. Headquartered
in Cleveland, Ohio, Cleveland-Cliffs employs approximately 27,000
people across its operations in the United States and Canada.
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