Steel firms agree on five-year labor pacts
By Staff -- Purchasing, 9/2/1999
Labor strife won't disrupt the steel market this year. U. S. Steel, Bethlehem Steel, Ispat Inland, and National Steel have agreed to new five-year contracts with the United Steelworkers of America. The tentative agreements raise wages by $2/hour over five years and boost pension benefits. (At press time, the USW still was negotiating new agreements with LTV Steel, USS/Kobe Steel, and WCI Steel)."At a time when our industry continues to be ravaged by a mounting flood of dumped steel imports, it was crucial that the companies and union reach contract settlements to avoid further market disruption," notes Paul J. Wilhelm, president of U.S. Steel. He adds: "Both sides negotiated responsibly and diligently to achieve agreement. From our standpoint, the result is a tentative pact that is fair and competitive, serving the interests of the companies, their employees, and their customers."
The new contracts, when ratified, will succeed Steel Industry Basic Labor Agreements that expired on July 31. USW President George Becker says the 1999 negotiations show that "a great deal of progress has been made to restore pattern bargaining to the basic steel industry." The union hopes to reinstate one-contract-for-all company bargaining in 2004.
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