Printer Friendly

ALCOA CONFIRMS END TO EARLY LABOR NEGOTIATIONS

 ALCOA CONFIRMS END TO EARLY LABOR NEGOTIATIONS
 PITTSBURGH, Sept. 25 /PRNewswire/ -- Alcoa (NYSE: AA) today


confirmed that negotiations to reach early labor agreements with the United Steelworkers of America (USWA) and the Aluminum Brick and Glass Workers International Union (ABGWIU) ended here Thursday.
 Reporting the end of the talks, Alcoa said it offered a total compensation proposal to the two unions that would have benefited every employee. For example:
 -- The economics of the proposal, if fully applied to wages, would have resulted in an increase of more than 9 percent;
 -- If all the money had been spent on pensions, the improvement for future retirees would average 30 percent, or over $3,000 a year. The company also offered to apply the money in other areas, such as a savings plan with a company match and improvements in life insurance and other insurance;
 -- The comany also offered an improved profit-sharing plan.
 These improvements were coupled with proposals for new medical plans.
 The company's managed care health care proposal would have been similar to the plan in place today for Alcoa's salaried employees. Key features of the company's preferred proposed plan include:
 -- $4,000 per year credit per employee for health insurance;
 -- The selection and monitoring of providers based on quality;
 -- Cost control by negotiating fair prices from health care providers;
 -- Savings by eliminating unnecessary medical services;
 -- Protection for employees from catastrophic risk;
 -- Elimination of paperwork and claim forms;
 -- Protection for employees from excesses in reasonable and customary charges;
 -- A prescription drug card; and
 -- Copayments until out-of-pocket maximum is reached.
 The company expressed regret that union officials refused to allow the process to continue to an employee vote.
 /delval/
 -0- 9/25/92
 /CONTACT: A.T. Posti of Alcoa, 412-553-4465/
 (AA) CO: Alcoa; United Steelworkers of America; Aluminum Brick and Glass
 Workers International Union ST: Pennsylvania IN: MNG SU:


DM-CC -- PG006 -- 3536 09/25/92 13:16 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 25, 1992
Words:316
Previous Article:MK WINS $30.9-MILLION LIGHT-RAIL CONTRACT IN SAN DIEGO
Next Article:NOVACARE NAMED ONE OF NATION'S FASTEST GROWING COMPANIES
Topics:


Related Articles
Alcoa-Reynolds contracts.
USWA & ABGWIU REJECT ALCOA & REYNOLDS METALS CONTRACT PROPOSAL
LABOR NEGOTIATIONS WITH REYNOLDS & ALCOA SUSPENDED; HEALTH CARE ISSUE CITED AS MAJOR IMPEDIMENT
ALCOA SETS CHARGES AGAINST 1992 EARNINGS
ALCOA SETS CHARGES AGAINST 1992 EARNINGS
ALCOA, UAW REACH NEW LABOR AGREEMENTS
ALCOA CUTS U.S. PRIMARY ALUMINUM PRODUCTION, CITING IMPACT OF RUSSIAN EXPORTS
USWA, ABG REACH AGREEMENTS WITH ALCOA AND REYNOLDS ALUMINUM
Longview Aluminum Files Suit Against Alcoa; Agreement Signed Under 'Economic Duress'.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters