USW negotiations continue as representatives report that progress had been made in the latest round of contract bargaining with US Steel. Negotiations between the two entities will continue and a strike will be avoided provided that gaps in asks from union members can be filled in a reasonable timeframe.
Currently, US Steel proposes an additional $145 healthcare premium per month to be used toward healthcare and dental coverage. Representatives for the USW negotiations calculated the lifetime cost to workers over the term of the agreement would total $10,440. The number would eat up the proposed wage increases from the USW and effectively put workers back at square one.
Key issues that remain to be resolved include health and dental costs, incentive pay, supplemental unemployment benefits, and disagreement on the use of a Voluntary Employees Beneficiary Association fund.
US Steel released its most recent contract proposal publicly, which provides:
- A $3,000 ratification bonus to be paid within 30 days of contract ratification to employees accruing pension service as of Sept. 1
- $3,000 bonus to be paid to the same category of employees as of Sept. 1, 2021.
- Basic wage increases of 4% effective Sept. 1, 2018
- increases of 3% on Sept. 1 of each year 2019 through 2023.
This marks the 4th consecutive week of contract negotiations between US Steel and the United Steelworkers Union.
- 8 Benefits of Quality Management | White Paper | Epicor Kinetic - March 8, 2022
- Epicor Kinetic Announces 1,000th Cloud Customer Milestone - February 14, 2022
- Epicor Financial Planner Product Release January 25, 2022 - January 25, 2022