Deal for better wages, lower insurance costs to impact 2,000 Marietta Lockheed employees
A deal between a labor union and Lockheed Martin will raise wages and lower health insurance costs for about 2,000 aerospace and defense workers in Marietta if approved by union members.
The deal, announced Saturday by the International Association of Machinists and Aerospace Workers, covers nearly 4,000 Lockheed Martin employees at several of the company’s Aeronautics, Space and Advanced Development Programs across the country, notably its Marietta location.
IAM members will vote on the deal at their local sites on March 5, according to the union’s release about the deal.
Included in the tentative agreement is a 41.5% wage increase over the life of an employee’s six-year contract at the Marietta site, according to the IAM, which equates to a $55.04 average wage.
The agreement also includes reduced costs for healthcare coverage, the IAM said, as well as increased retirement security for union members.
Negotiators from IAM and Lockheed Martin concluded discussions about the new labor contract on Feb. 24 in Palm Springs, California.
“The IAM has proven once again that we are most powerful aerospace and defense union in the world,” said IAM Aerospace Chief of Staff Jody Bennett. “This Negotiating Committee put everything they had into securing a fair and equitable agreement for our membership. They have succeeded in delivering an agreement for our members’ consideration that will improve the well-being of them, their families and their communities.”
IAM members at the Lockheed Martin locations covered by the tentative agreements perform critical functions for the company and the U.S. military, including military aircraft maintenance and production, space operations, and other military support, the IAM said in a statement about the agreement.
“IAM members at Lockheed Martin put their immense dedication and skill into producing the most advanced military products in the world—and this agreement ensures the company treats them with the respect they’ve earned,” said IAM Aerospace Coordinator Robert Barnwell.
Rob Fuller, spokesperson for Lockheed Martin, said the company has been informed the IAM negotiating team recommended its “members vote for the company’s last, best and final offer.”