Terms included a 16% effective general wage increase over the four years of the contract and a $4,000 per person ratification bonus.
Negotiations have been ongoing since February between Lockheed Martin Corp. and the union representing machinists at its Fort Worth plant that assembles the F-35.Union members at a F-35 fighter jet manufacturing plant in Texas voted on Sunday to ratify a new contract with Lockheed Martin Corp. that includes wage hikes and improvements to retirement benefits.
Terms include a 16% effective general wage increase over the four years of the contract, cost-of-living adjustments and a $4,000 per person ratification bonus and maintain the union’s health care plan. Lockheed did not immediately respond to a request for comment. Last week, the company said rising costs to build F-35 fighter jets have bogged down contract talks with the Pentagon.
Labor unions have experienced a renaissance over the past year, emboldened by soaring company profits, renewed respect for essential workers because of the pandemic and rekindled political will in Washington.
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