FORT WORTH (CBSDFW.COM) – About 5,000 members of the International Association of Machinists and Aerospace Workers (IAM) District 776 in Fort Worth, Texas voted on Sunday, April 24, 2022 to ratify a new contract with Lockheed Martin.
The four-year, two-month contact takes effect on Monday, April 25 and includes historic pay increases and strong benefits:
- A 16% effective general wage increase over the course of the contract
- Additional cost-of-living adjustments and a $1,000 yearly supplement
- Improvements to the retirement plan
- A $4,000 ratification bonus
- Improvements in field pay, annual progression raises, shift premiums, and more
The contract, for which negotiations had been ongoing since February, also maintains the currently existing healthcare plan. It was unanimously recommended by the IAM District 776 negotiating committee.
IAM members at the Fort Worth location help build F-35s. The F-35 supply chain supports over 254,000 jobs and 1,800 suppliers across 48 states and Puerto Rico.
“We demanded an equitable contract that fairly compensated the best aerospace and defense workers in the world—and today, we succeeded,” said IAM District 776 President and Directing Business Representative Paul Black. “The solidarity and strength of our membership and negotiating committee carried us through this process.”
“We’re pleased that the IAM members ratified this new contract. We offered an industry-leading agreement that balances the needs of our customers with rewarding our excellent workforce,” said Nick Drazic, Lockheed Martin’s vice president of Aeronautics Operations. “Our employees perform a critical task for our customers and the nation through their work supporting critical aircraft production programs.”
The new agreement is effective April 25 and extends to June 14, 2026. It covers about 5,000 Lockheed Martin production and flight line mechanics, assemblers and support personnel in Fort Worth, Texas, Edwards Air Force Base, California, and Patuxent River, Maryland.
Source : https://www.cbsnews.com/dfw/news/machinists-union-lockheed-fort-worth-ratify-contract/