The new Cleveland-Cliffs labor contract includes up to 20% hike in base wages.
SEATTLE (Scrap Monster): Cleveland-Cliffs Inc. announced that it has ratified the new labor agreement with the United Steelworkers (USW) union. This marks the conclusion of the renegotiating cycle between the company and the union.
The new contract will cover approximately 12,000 unionized workers spread across 13 operating locations of the company in Ohio, Pennsylvania, Indiana, Illinois, West Virginia and Minnesota. The contract will be valid for a period of four years and is expected to commence on September 1, 2022. It must be noted that the company had earlier ratified a labor agreement covering around 2,000 employees belonging to its mining and pelletizing operations.
The new Cleveland-Cliffs labor contract includes up to 20% hike in base wages. Furthermore, it offers better insurance benefits for active workers as well as for retired ones. Among other benefits included in the contract are provisions for pension hike and paid parental leave.
Lourenco Goncalves, Chairman, President and CEO noted that the labor agreements demonstrate that Cleveland-Cliffs is a people oriented company. Going forward, the company will continue to promote the well-being of its employees, for the benefit of its clients and long-term shareholders, he added.
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