Lockheed workers OK new contract

first_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREOregon Ducks football players get stuck on Disney ride during Rose Bowl eventLocal 776 President Pat Lane was unavailable for comment to The Associated Press on Monday, but he told the Fort Worth Star-Telegram and The Dallas Morning News for their Monday editions that the work schedule proved to be a point of contention. Lockheed was calling for a 9-80 work schedule under which employees would work nine days and 80 hours every two weeks, with overtime paid after the 80th hour. Employees were opposed to the schedule, Lane said, and Lockheed agreed to maintain its current five-day, 40-hour work schedule. Employees will still receive overtime pay after eight hours daily and 40 hours in a week. The deal included a $2,000 bonus for union members. It also includes wage increases of 4 percent this year and 3 percent in each of the next two years, including an increase in the minimum hourly rate for new employees. Under the deal, employees will pay a larger share of insurance premiums for health care, but the out-of-pocket expenses are capped. Shares of parent Lockheed Martin Corp. rose 13 cents, to close at $73.94 on the New York Stock Exchange.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! FORT WORTH, Texas – Union workers at Lockheed Martin Aeronautics Co. accepted a new contract with higher wages and a limited increase in employee contributions to health care costs. The International Association of Machinists and Aerospace Workers Local 776 approved the three-year deal Sunday with 82.5 percent of those present voting in favor, according to a union statement. The 3,700 union members build F-16, F-22 and F-35 fighter jets at the Fort Worth plant. Lockheed officials said in a statement that the contract is “fair and equitable.” “The proposal was the result of good-faith negotiations between the company and the union bargaining committees,” Lockheed spokesman Joe Stout said. last_img

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