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Timken, Steelworkers settle.

Timken, Steelworkers settle Ending a 34-day job action, 5,800 employees at Timken Co. returned to work under a 4-year agreement negotiated by the Steelworkers. The accord was reached against the backdrop of a layoff for some 1,000 workers that had been announced before the work stoppage began.

The major stumbling blocks to settlement reportedly were pension benefits and cost-of-living adjustments. In the new contract, minimum monthly pension for retirees with more than 30 years of service wifl increase by $408 a month, to $1,000. The pact also provides for potential cost-of-living adjustments in each year.

Other important settlement terms included incorporation of the existing 43-cent-an-hour cost-of-living allowance into basic wage rates; hourly wage increases of 25 cents in 1989, and average increases of 25 cents per hour in 1990 and 50 cents per hour in 1991; and a 4-year contract, more in line with recent settlements in the industry, rather than the 3-year duration of previous agreements.
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Title Annotation:Developments in Industrial Relations; United Steelworkers of America
Author:Cimini, Michael H.
Publication:Monthly Labor Review
Article Type:column
Date:Feb 1, 1990
Words:160
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