Lockheed Martin Reaches New Contracts With 2 Unions

Two unions agree to new contract but one union remains on strike.

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    NEWSLETTERS

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    A sign at the main entrance of Lockheed Martin Aeronautics Company in Fort Worth, TX.

    The Lockheed Martin plant in Fort Worth announced it reached new labor agreements with two unions on Saturday. The unions are the International Brotherhood of Electrical Workers (IBEW) and the Office and Professional Employees International Union (OPEIU).

    The company sent NBC 5 a statement that reads in part: "The IBEW members approved their agreement in a vote on Friday, May 18, and the OPEIU members approved their agreement today.  The IBEW represents about 70 employees at the company’s Fort Worth site, while the OPEIU represents about 430. The unions and company have been negotiating for the past month."

    Lockheed said the union members will receive a $3000 bonus and increases to future pension benefits for eligible current workers.

    However, a third union remains on the picket lines.  The International Association of Machinists and Aerospace Workers (IAM) began their strike on April 23. Health care and pension are two major points of contention.