Sun, Jul 03, 2005

Terms Of New Piper Labor Agreement

What It Took To Make A Deal

As ANN reported Saturday, New Piper this week reached an agreement with its machinists on a new contract -- thus averting a possible strike that threatened to wipe out the recent gains made by Piper. The new three-year contract between Piper and its machinists in Vero Beach, FL, which was approved by the rank-and-file on Thursday, looked like this, according to a copy of the pact obtained by the Vero Beach Star-Ledger:

Piper absorbs all increases in health care costs for 12-months, although increases in company contributions to employee policies is capped at five-percent on June 1, 2006 and again a year later.
Over the next two years, employee raises will be capped at two-percent.
Piper won't lock out employees and, during the term of the contract, employees won't strike.
Workers get overtime after 40 hours/week. The company can mandate overtime with 24-hours' notice.
No changes to the current 401K plan.
The contract puts into place a grievance and mediation procedure.

FMI: www.newpiper.com

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Terms Of New Piper Labor Agreement

What It Took To Make A Deal

FMI: www.newpiper.com

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