United Steelworkers, ArcelorMittal Reach Labor Pact
November 02 2018 - 6:02PM
Dow Jones News
By Patrick Thomas
The United Steelworkers union and ArcelorMittal SA reached a
tentative deal on a new labor contract covering about 15,000
workers after several months of negotiations.
The four-year agreement for workers includes wage increases
between 3% and 4% each year and a $4,000 ratification bonus. The
deal with ArcelorMittal, the world's largest steelmaker, comes less
than a month after the union reached a similar agreement with
workers from U.S. Steel Corp.
"The proposed four-year agreement mirrors the industry standard
on wages, lump-sum payments and pensions and maintains or improves
our existing health-insurance benefits for active and retired
Steelworkers and their dependents," the steelworkers union said in
prepared remarks.
With a tentative deal in place, union members will now review
the proposal and vote on it.
Last week ArcelorMittal issued a statement outlining its latest
proposal to the union, which included no changes to profit-sharing,
no health-care premiums for active employees and no premium
increases for retirees.
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
November 02, 2018 17:47 ET (21:47 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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