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 March 4, 2015

News: Pentagon: Another BRAC will save money - Pentagon planners have a new pitch to lawmakers skeptical of a fresh round of base closings: We promise we’ll save money this time.   Business: China’s new C919 will begin test flights this year - China’s new superjet will take to the skies for the first time later this...
 
 
Air Force photograph by SrA. Jensen Stidham

World War II pilot reunited with P-47

Air Force photograph by SrA. Jensen Stidham Retired Air National Guard Chief Warrant Officer 2 Robert Hertel, laughs while under the wing of a P-47 Thunderbolt during the Heritage Flight Training and Certification Course Feb. 2...
 
 

News Briefs March 4, 2015

General: 8,500 Islamic State fighters killed in Iraq so far The U.S.-led military coalition in Iraq has killed more than 8,500 Islamic State fighters since its bombing campaign began in August, the top general overseeing the coalition said March 3. Army Gen. Lloyd Austin, the commander of U.S. Central Command, said the Islamic State, which...
 

 
Lockheed Martin photograph

Turning up the heat

Lockheed Martin photograph Lockheed Martin ATHENA laser weapon system defeats a truck target by disabling the engine, demonstrating its military effectiveness against enemy ground vehicles. Latest evolution of Lockheed Martin l...
 
 

USO Visit

Air Force photograph by Jet Fabara Actor Vince Vaughn speaks with Edwards Airmen and 412th Security Forces Squadron members at the base library before introducing an advance screening of his new movie, “Unfinished Business,” at the base theater Feb. 28.
 
 

Sikorsky S-97 RAIDERô team begins final assembly of second aircraft

Sikorsky Aircraft Corp., a subsidiary of United Technologies Corp., announced March 4 the start of final assembly of the second S-97 RAIDERô helicopter at the company’s Development Flight Center. Along with a team of industry suppliers, Sikorsky is developing two RAIDERô prototypes to demonstrate the revolutionary new capabilities in improved maneuverability and flight speed. The...
 




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>