Feb 2024 Nearly 600 workers including machinists, machine operators, mechanics and inspectors working at Pratt & Whitney's West Palm Beach facility in Florida, voted in a new three-year labor contract.
The new agreement includes a 10.5% cumulative pay hike spread over three years, among other benefits.
The new contract includes:
– Improving job security language, including new work
– Strong yearly general wage increases and pension multiplier
– Improvements in personal time off and vacations
– Solid improvements in health care with a minimum average savings of $2,400 inclusive of premium and out-of-pocket expenses per employee.
– Severance pay and re-education improvements, and more.
The workers support the production and maintenance of jet aircraft engines.
In the past two years, workers across various industrial sectors have pushed for improved pay and benefits amidst a tight labor market and rising cost of living.
The agreement with the RTX unit took effect on Feb. 5th and includes improved health plans starting 2025 and increased pension benefits.
IAM members at the jet engine maker will also receive a $1,500 bonus following the yes vote to the contract.
"The new agreement is a significant win for the IAM members at Pratt & Whitney, and it will provide them with greater financial stability and long-term job security," IAM Aerospace Coordinator Robert Barnwell said.
Highlights of the agreement include:
• The new agreement provides IAM members with a 4% increase in 2024. In 2025, they will receive a 3.5% increase, followed by a 3% increase in 2026.
• One-time equity wage adjustment of $2.00.
• $1,500 ratification bonus.
• Increases in progression rate and promotion.
• Pension multiplier increase.
• Improved medical and dental plans beginning 2025.
• Strengthened benefits related to bereavement, severance, and recall rights.
• And more.
“Pratt & Whitney has established itself as a leading player in the aerospace industry, and it is only fitting that the people who have contributed to this success in various ways be recognized and rewarded accordingly,” said IAM District 166 Directing Business Representative Kevin DiMeco.
“The new agreement is a significant win for the IAM members at Pratt & Whitney, and it will provide them with greater financial stability and long-term job security,” said IAM Aerospace Coordinator Robert Barnwell. “I congratulate our negotiating committee and all members for negotiating an excellent contract, as evidenced by the overwhelming majority who voted in favor of it.”
The negotiating committee received invaluable support from the IAM Aerospace Department, IAM District 166 Directing Business Representative Kevin DiMeco, and Business Representative Ed Grabowski. The committee was also aided by IAM Strategic Resources Department Senior Research Economist Gwendolyn A. Camp, who provided crucial and real-time comparative data during the negotiation process.
The three-year agreement took effect on Feb. 5, 2024.
“The IAM Local 166 negotiating committee’s tireless efforts and solidarity have paid off and resulted in a new contract that not only recognizes the exceptional skills of our members but also guarantees them better wages and benefits,” said IAM Southern Territory General Vice President Craig Martin. “It is truly a proud moment for the IAM, and we are grateful to the negotiating committee and membership for their remarkable contributions in achieving this milestone.”