Business

May 21, 2012

Lockheed Martin Aeronautics reaches new contracts with two unions

Members of the International Brotherhood of Electrical Workers and the Office and Professional Employees International Union have ratified new labor agreements with Lockheed Martin Aeronautics in Fort Worth Texas.

The new agreements became effective May 21 and extend for four and five years, respectively.

The IBEW members approved their agreement in a vote May 18, and the OPEIU members approved their agreement May 19.

The IBEW represents about 70 employees at the company’s Fort Worth site, while the OPEIU represents about 430. The unions and company have been negotiating for the past month.

“We’re pleased the union members ratified these new agreements,” said Bridget Lauderdale, vice president of Aeronautics Operations at Lockheed Martin. “Our employees perform a critical task for our customers and the nation through their work supporting the F-35, F-16 and other business programs, and these new agreements will allow us to sustain those activities while also positioning the company for efficiency and affordability.”

The union members will each receive a $3,000 ratification bonus and general wage increases over the term of the agreements. The agreements also include Cost of Living Adjustment provisions and will increase future pension benefits by 14 percent, to $90 per month per year of credited service for eligible current employees. These new agreements offer a choice of two health insurance options: the LM HealthWorks plan which is standard throughout Lockheed Martin, or an Aetna HMO.

These ratified contracts also include a defined contribution pension plan for new hire employees in lieu of a defined benefit pension plan. These terms are similar to what Lockheed Martin offered to the International Association of Machinists and Aerospace Workers in Fort Worth, Naval Air Station Patuxent River, Md., and Edwards Air Force Base, Calif., which the IAM rejected April 22, resulting in the ongoing strike.




All of this week's top headlines to your email every Friday.


 
 

 

Headlines November 24, 2014

News: Hagel said to be stepping down as defense chief under pressure - Defense Secretary Chuck Hagel is stepping down under pressure, the first cabinet-level casualty of President Obama’s Democratic majority in the Senate and a beleaguered national security team that has struggled to stay ahead of an onslaught of global crises. Afghan mission for U.S....
 
 

News Briefs November 24, 2014

Fog forces five U.S. choppers to land in Polish field Officials say that that fog forced five U.S. Army helicopters to make an emergency landing in a Polish field and spend the night there, the second such incident since September. The U.S. Army said 15 soldiers were moving equipment to their base in Germany Nov....
 
 
Air Force photograph by Samuel King Jr.

Navy’s first F-35C squadron surpasses 1,000 flight hours

Air Force photograph by Samuel King Jr. An F-35C Lightning II aircraft piloted by Lt. Cmdr. Chris Tabert, assigned to Strike Fighter Squadron (VFA) 101, flies the squadron’s first local sortie. The F-35C is the carrier va...
 

 
boeing-SC-787

Boeing South Carolina begins final assembly of its first 787-9 Dreamliner

Boeing has started final assembly of the 787-9 Dreamliner at its South Carolina facility. The team began joining large fuselage sections of the newest 787 Nov. 22 on schedule, a proud milestone for the South Carolina team and a...
 
 
Lockheed Martin image

Ball Aerospace equips Orion mission with key avionics, antenna hardware

Lockheed Martin image Ball Aerospace & Technologies Corp. is providing the phased array antennas and flight test cameras to prime contractor Lockheed Martin for Orion’s Exploration Flight Test-1 (EFT-1), which is an u...
 
 

Salina, Kansas, recalls anniversary of shuttered base

It has been 50 years this month since the announcement that Schilling Air Force Base was closing rattled Salina residents. The Salina Journal, which carried news of the closure in its Nov. 19, 1964, editions, reported that the economic disaster then spared no part of the community – real estate, retail, civic involvement, church attendance,...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>