LOCKHEED CONTRACT REACHED UNION VOTE SET FOR SUNDAY.
Byline: Jim Skeen Staff Writer
PALMDALE - Lockheed Martin For the former company, see .
Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. and a union representing about 1,000 members of the aerospace giant's Palmdale work force reached a tentative agreement Friday on a new three-year contract.
The International Association of Machinists and Aerospace Workers The International Association of Machinists and Aerospace Workers is an AFL-CIO/CLC trade union representing approx. 646,933 workers as of 2006 in more than 200 industries. will meet Sunday, one day before a strike was to begin, to vote on the tentative pact. Union leaders are recommending approval of the agreement.
``We think it's a good, positive deal,'' said company spokeswoman Dianne Knippel. ``We feel positive about it.''
Union officials could not immediately be reached for comment. The union's Web site stated that leadership was advising approval of the proposal and that the vote was slated for Sunday morning Sunday Morning may refer to:
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The tentative agreement includes no increase in out-of-pocket medical costs to employees and pay raises of 4 percent in the first year and 3 percent in both the second and third years of the contract.
The tentative agreement also includes a $1,000 signing bonus A signing bonus or sign-on bonus is a sum of money paid to a new employee by a company as an incentive to join that company. These are often given as a way of making a compensation package more attractive to the employee e.g. if the annual salary is lower than they desire. for each employee and annual cost-of-living payments of $600 per year for each employee.
The previous offer from the company included pay raises of 3 percent in each of the three years and increases in medical costs that union officials said would have wiped out the pay hikes. That offer included a $500 signing bonus per employee.
Lockheed Martin workers had voted overwhelming last weekend to reject that proposal and had scheduled a strike to begin Monday.
Contract negotiations between the union and Lockheed Martin were also going on with locals covering employees in Sunnyvale in Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern and Marietta, Ga.
Union officials were advising membership in Sunnyvale to approve a contract proposal similar to the Palmdale agreement, but Marietta union officials were advising against ratifying the pact.
The Palmdale tentative agreement was reported early Thursday morning after both sides had spent a second day with a federal mediator in Glendale. Federal officials had ordered the mediation sessions fearing ``substantial interruption of commerce'' had the union struck.
During the negotiations for the last contract, a strike was narrowly averted when an agreement was reached three hours before a strike deadline.