U.S. Steel and United Steelworkers Reach Tentative Labour Agreement

SEATTLE (Scrap Monster): The threats of an imminent strike action at U.S. Steel facilities seems to have faded away with the company declaring that it has reached a deal with the United Steelworkers (USW). After nearly six weeks of contract negotiations, the company is believed to have reached a deal with the union on the collective contract covering almost 14,000 union members across eight states. The tentative agreement is subject to ratification by union members, the company press release stated.

Announcing the breakthrough development, David B. Burritt, President and Chief Executive Officer of U. S. Steel said that the company is pleased to have reached a fair deal in the best long-term interests of its employees and their families as well as its other stakeholders. The agreement will foster the company’s long-term business strategy to maintain the leadership position in the highly competitive global steel industry, he added.

The union sent a text alert to its members informing them of the tentative agreement reached with the company.

The revised contract proposal will be for a period of four years, which would extend through September 1, 2022. It proposes 14% guaranteed base wage increase over the four-year agreement period-4% increase in first year, followed by 3.5% increase in the next two years and 3% raise in fourth year. In addition to retaining existing healthcare benefits, it also proposes a second health care option. Also, there will be no premium increases for retirees. Further details regarding the deal would be publicized only upon approval vote by local members.