Workers hired after July 2 wouldn't get traditional pensions. Instead, they would have a retirement savings plan and contributions from Lockheed Martin.
By Angela K. Brown|June 28, 2012 at 01:02 PM
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FORT WORTH, Texas (AP) — Lockheed Martin machinists ended their 10-week strike Thursday, approving a new labor deal that includes a $2,000 bonus and annual pay increases starting at 3 percent the first year.
Members of the International Association of Machinists and Aerospace Workers District Lodge 776 voted overwhelmingly to approve the four-year agreement, with 81 percent of nearly 2,300 voters casting ballots in favor of the deal, Union President Paul Black said. Union members will return to work Monday or July 9, he said.
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