U.S. Steel Submitted Updated Contract Proposal to Unionized Workers

SEATTLE (Scrap Monster): Pittsburgh-based steelmaker United States Steel Corporation (U.S. Steel) submitted a revised contract proposal to the United Steelworkers (USW). It must be noted that the company has been engaged in negotiations with the union on a new labor agreement. It must be noted that the existing labor contract covering members belonging to USW has expired effective yesterday, 31^st August, 2022.

As per the revised offer, the company put forward a base wage increase of 3% in each of the first three years of the contract, followed by a 4% increase in the fourth year. The earlier proposal had offered 3% increase in first year and 2.5% increase in subsequent years. The other proposals include $7,000 employee appreciation bonus, uncapped profit sharing and investment to the tune of $1 billion in USW-represented facilities over the contract period of four years.

Barry Melnkovic, senior vice-president and chief human resources officer, U.S. Steel stated that the negotiations are on and that the relationship at the table continues to be constructive, productive and respectful.

However, the union officials noted that the proposal is weak and that it will try pushing hard for a fair agreement. In a statement, the USW said that it expects the company to recognize the work and sacrifices of its members with real wage increases and a comprehensive benefits plan that protects their families now and through retirement.

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