Lockheed Martin (LMT) Enters New Master Labor Agreements Covering 650 Workers
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The International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) ratified a new master labor agreement with Lockheed Martin (NYSE: LMT) covering approximately 650 workers at three sites. The new five-year agreement, ratified over the weekend, becomes effective immediately.
The bargaining unit represents workers at Lockheed Martin Space Systems Company in Denver, Lockheed Martin Mission Systems & Sensors in Baltimore and Lockheed Martin Missiles and Fire Control in Orlando.
The company and union negotiated a new agreement that provides competitive wages over the next five years through a combination of a $2,000 ratification bonus, three general wage increases, two lump sum payments and cost of living adjustments, while enhancing member job security.
The bargaining unit represents workers at Lockheed Martin Space Systems Company in Denver, Lockheed Martin Mission Systems & Sensors in Baltimore and Lockheed Martin Missiles and Fire Control in Orlando.
The company and union negotiated a new agreement that provides competitive wages over the next five years through a combination of a $2,000 ratification bonus, three general wage increases, two lump sum payments and cost of living adjustments, while enhancing member job security.
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