Washington, DC – United Steelworkers and ArcelorMittal have reached a tentative four-year labor agreement. The USW issued this statement indicating a tentative agreement has been reached.
“The proposed four-year agreement mirrors the industry standard on wages, lump-sum payments and pensions and maintains or improves our existing health insurance benefits for active and retired Steelworkers and their dependents.”
While neither side provided exact details of the tentative agreement, information provided included the following: a four-year contract was settled 2with annual base wage increases of 4 percent, 3.5 percent, 3.5 percent and 3 percent; a lump sum payment of $4,000 following ratification; no change in profit sharing; no health care premiums for active employees and no premium increases for retirees; no increase to deductibles, co-pay or out-of-pocket maximum for active employees or retirees; more than $1,800 per year in additional contributions to the Steelworkers Pension Trust; and a commitment to the long-term competitiveness of operations through the investment of a minimum of $2.3 billion over the life of the contract.
The agreement, if ratified, would cover about 12,000 USW-represented employees at 11 of ArcelorMittal USA’s operations in West Virginia, Ohio, Pennsylvania, Indiana, Illinois and Minnesota.
“We are pleased to have a new, tentative agreement with our partners at the USW and believe we have reached a fair and positive outcome for all parties involved without disruption to our business operations,” said John Brett, president and CEO of ArcelorMittal USA.