U. S. Steel Reaches Tentative Agreement with United Steelworkers
November 08 2022 - 01:01PM
Business Wire
United States Steel Corporation (NYSE: X) announced today that
it has reached a tentative agreement with the United Steelworkers
(USW) on a new four-year contract covering approximately 11,000
USW-represented employees at the company’s domestic flat-rolled
facilities, iron ore mining facilities and applicable tubular
operations. The tentative agreement remains subject to
ratification.
“We are pleased to have reached a tentative agreement with the
USW that supports our unionized workforce while balancing the
interests of all our stakeholders towards our Best for All®
future,” said David B. Burritt, President and Chief Executive
Officer of U. S. Steel. “I appreciate the efforts of both sides to
work towards a responsible and mutually beneficial agreement. The
time spent resulted in a contract that truly is Best for All. We
leveraged our strong balance sheet to reward union employees with a
bonus and strong base wages. We also leveraged our overfunded
pension and OPEB plans to support the benefits provided to our
employees. The tentative agreement reflects our core belief that
when U. S. Steel does well, employees do well. Strong base wage
increases and benefit enhancements to support our employees’
wellbeing are key parts of this tentative agreement because we know
their hard work is essential to delivering sustainable steel
solutions for people and planet and enhancing our customer
satisfaction.”
Said U. S. Steel Senior Vice President and Chief Human Resources
Officer Barry Melnkovic: “This tentative agreement is a textbook
example of a responsible contract that meets the needs of our
business and our employees and maintains the existing uncapped
profit sharing plan that enables our employees to be among the
highest paid in the industry.”
Details about the tentative agreement can be found at
negotiations.uss.com.
Founded in 1901, United States Steel Corporation is a leading
steel producer. With an unwavering focus on safety, the Company’s
customer-centric Best for All® strategy is advancing a more secure,
sustainable future for U. S. Steel and its stakeholders. With a
renewed emphasis on innovation, U. S. Steel serves the automotive,
construction, appliance, energy, containers, and packaging
industries with high value-added steel products such as U. S.
Steel’s proprietary XG3™ advanced high-strength steel. The Company
also maintains competitively advantaged iron ore production and has
an annual raw steelmaking capability of 22.4 million net tons. U.
S. Steel is headquartered in Pittsburgh, Pennsylvania, with
world-class operations across the United States and in Central
Europe. For more information, please visit www.ussteel.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20221107006161/en/
Amanda Malkowski Media Relations Manager Corporate
Communications C- (412) 736-2475 E – almalkowski@uss.com
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