ArcelorMittal wants to freeze pay and slash benefits, union says
Source: NWI Times
Joseph S. Pete
ArcelorMittal made its first contract proposal to the United Steelworkers, and the union says it would freeze pay, greatly increase employee health care costs and eventually eliminate benefits for legacy retirees.
The steelmaker further proposed establishing a two-tier system under which new employees would earn less and receive lesser benefits than current ones, according to the union.
"Overall, the company has cherry-picked parts of other USW contracts from a variety of industries to form the basis of a labor agreement that management believes will make the company more profitable," the union said in an update to its members. "The company has proposed a three-year contract with no wage increases throughout its term, along with a proposal to reduce incentive payments while eliminating incentives altogether for workers in Labor Grade 1."
Luxembourg-based ArcelorMittal has said it needs to reduce expenses in America, where it says it has lost $294 million a year over the last half decade. Its current contract with union-represented employees expires in September. The steelmaker has not released any details on its contract proposal.
FULL story at link.
ArcelorMittal's offices at Indiana Harbor. The steelmaker wants to freeze pay and slash benefits, the United Steelworkers union says.
Read more: http://www.nwitimes.com/business/local/arcelormittal-wants-to-freeze-pay-and-slash-benefits-union-says/article_287c2081-e561-5b21-9729-a36168945890.html
I love the building.
= new reply since forum marked as read
It's at an old Inland Steel facility.
Inland Steel's Main Office Building in East Chicago, Indiana; it was designed by the noted Chicago architecture firm of Graham, Anderson, Probst & White, and completed in 1930.
Cold Water and Hot Steel
I’d like to introduce the world’s largest integrated steelmaking complex, the ArcelorMittal Indiana Harbor steel works in East Chicago.
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And did we mention that there’s a significant work of architecture in the midst of all this industrial madness? The main office building on the site is a lovely 1930 work by Graham, Anderson, Probst & White. It’s an Art Deco beauty in red-brown brick, with floral cartouches atop each bay and twin towers punctuating its skyline.
