BP presents revised labor proposal at Whiting refinery

Investing.com - BP announced on Friday that its Whiting refinery has returned to negotiations with the United Steelworkers Local 7-1 bargaining committee, presenting a revised proposal aimed at reaching an agreement.

The oil company said the updated settlement offer withdraws the proposed voluntary reduction of up to 42 maintenance craft employees, addressing union concerns.

The current proposal includes an average 13% pay increase over the first four years of a proposed six-year agreement. Workers would also receive a one-time lump sum payment ranging from $2,500 to $10,000 after the contract is ratified.

BP stated that approximately 65 union-represented employees who would be affected by the proposed changes would be compensated.

You May Also Be Interested In

• Doncasters (DPC) indicating open around $40, IPO priced at $33
• Jack Henry and Google Cloud expand AI security collaboration for banks
• Apple raises Mac and iPad prices due to chip shortage