Dear Represented Employees,
Today we announced a tentative agreement with the United Steelworkers (USW) on a new four-year contract covering approximately 11,000 USW-represented employees at our domestic flat-rolled facilities, iron ore mining facilities, and applicable tubular operations. The tentative agreement remains subject to ratification.
I appreciate the efforts of both sides to work towards a fair and mutually beneficial agreement. We took the time to get the right collective bargaining agreement that was truly Best for All®. The agreement includes sustainable and substantial base wage increases, an appreciation bonus, a new floating holiday and increased contributions to the Steelworkers Pension Trust. It also includes active healthcare that allows you to keep the same providers. The details of the tentative agreement can be found here.
Overall, our leadership team views this tentative agreement as one that is fair and balances the interests of our stakeholders:
- Employees, who know that when U. S. Steel does well, they do well.
- Customers, who will continue to receive innovative, sustainable steel solutions for people and planet
- Stockholders, who can invest in U. S. Steel with confidence that this agreement enables us to implement our strategic projects and continue to reward them with direct returns.
- And U. S. Steel as a company, because we are well-positioned to continue implementing our long-term business strategy and generate a strong return on the sizable investments we’re making in our people and facilities.
This agreement is another example of our shared commitment to this company and our ability to find common ground.
So, what happens next?
The ratification process typically takes several weeks. We will announce the results of the voting upon completion.
Right now, it’s critical that everyone remain focused on safety. Nothing is more important than the safety of our employees, and we always want this to be top of mind.
We will continue to keep you updated.
Now let’s get back to work … safely.
-Dave Burritt, U. S. Steel President and CEO
Click here to view a video message from Dave.
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