US Steel Revises Offer To More Than 16,000 Steelworkers

- Sep 13, 2018-

Business North reported that US Steel on Wednesday made a revised labor contract proposal to United Steelworkers (USW). US Steel said the proposal includes a 14 percent base wage increase over six years, guaranteed profit sharing and health care premiums offset with transition payments. US Steel said “We have submitted a revised proposal to USW leadership that reflects the ongoing dialogue during our most recent round of negotiations. The revised six-year proposal, which we strongly believe is in the best long-term interest of all US Steel stakeholders, includes a 14 percent base wage increase over the term of the agreement, guaranteed profit sharing, and health care premiums offset with transition payments.”

US Steel, in an informal general outline, said the company is offering a 4 percent base wage increase effective Sept 1 and 2 percent wage increases on September 1 of each year 2019 through 2023. The offer also proposes a $4,000 ratification bonus paid within 30 days of September 22 to bargaining unit employees accruing pension service as of Sept. 1 and $6,000 in guaranteed minimum profit sharing for the combined third and fourth quarters of 2018 paid within 30 days of Sept. 22. Healthcare transition payments of $1,500 (lump sum) or $125 per month for the following calendar year, are proposed depending on an employees' health insurance plan.

A USW bargaining committee late Wednesday afternoon was still reviewing the proposal

Source : Business North

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