Striking Lockheed Martin Machinists Vote Thursday

Machinists went on strike April 23

Tuesday, Jun 26, 2012  |  Updated 10:08 AM CDT
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Lockheed Strike May Soon Come to an End

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Lockheed Strike May Soon Come to an End

The longest strike in Lockheed Martin's history might come to an end this week. The company and one of its biggest unions reached a tentative agreement on a new contract over the weekend.
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Striking Lockheed Martin machinists will vote Thursday on a new labor deal.

Members of the International Association of Machinists and Aerospace Workers in Fort Worth went on strike April 23. Union members earlier rejected an offer that would have raised health care costs and eliminated pensions for new hires.

Leaders of Machinists Local 776, which represents about 3,600 striking workers, announced a tentative deal Saturday after four days of talks.

The four-year agreement, outlined Monday, says workers would get $2,000, plus annual pay increases starting at 3 percent the first year. Current basic health care plans would not change.

Workers hired after July 2, the deadline for ratification, would not get traditional pensions but instead would have a retirement savings plan and contributions from Lockheed Martin.

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