FORT WORTH (CBSDFW.COM) – Approximately 5,000 members of the 776th Circuit of the International Association of Machine and Aerospace Workers (IAM) in Fort Worth, Texas, voted on Sunday, April 24, 2022, to ratify the new contract with Lockheed Martin.
The four-year, two-month contact takes effect on Monday, April 25, and includes historic salary increases and strong benefits:
- 16% effective total salary increase during the contract period
- Additional accommodation cost adjustments and an additional $ 1,000 per year
- Improving the pension plan
- $ 4,000 ratification bonus
- Improvements in field fees, annual increases, queue bonuses, etc.
The agreement, which has been under negotiation since February and was unanimously recommended by the IAM District 776 Negotiation Committee, preserves the previous health plan.
IAM members at Fort Worth help build the F-35s. The F-35 supply chain supports more than 254,000 jobs and 1,800 suppliers in 48 states and Puerto Rico.
“We have demanded a fair deal that fairly compensates the world’s best aerospace and defense workers, and we have achieved that today,” said Paul Black, President and CEO of IAM District 776. “The solidarity and strength of our member and the negotiating committee have taken us through this process.”
Nick Drazic, Lockheed Martin’s vice president of aeronautical operations, said: “We are delighted that IAM members have ratified this new agreement. We have proposed an industry-leading agreement that balances the needs of our customers and rewards our excellent workforce.” “Our employees play a critical role for our customers and our country by supporting critical aircraft manufacturing programs.”
The new agreement will enter into force on April 25, 2026 and will be extended until June 14, 2026. It includes approximately 5,000 Lockheed Martin production and flight line mechanics, assemblers and support staff in Fort Worth, Texas, Edwards Air Force Base, California and Patuxent River, Maryland.
At Lockheed in Fort Worth, the machinists’ union ratified the new contract
Source link At Lockheed in Fort Worth, the machinists’ union ratified the new contract