Lockheed Martin Fort Worth Collective Bargaining Agreement

The company entered into new employment contracts with four other unions at the Fort Worth plant in 2009. Lockheed Martin employs approximately 14,400 people in Fort Worth, including about 4,500 represented by unions. Website: www.lmaeronautics.com/www.lockheedmartin.com/negotiations July 9, 2016 – District Lodge 776 members voted today by a 75% margin to ratify a new agreement with Lockheed Martin. The contract includes approximately 2900 employees in Fort Worth, TX, Edwards AFB, CA and PAX River AFB, MD. The five-year, eight-month agreement provided a ratification bonus of $4,000, $4,800 to COLA supplements and a 16 percent pay increase over the life of the agreement. Members of the Federated Independent Texas Union (FITU) ratified a new labor agreement with Lockheed Martin Aeronautics on June 14. The three-year contract includes approximately 270 FITU members who work in manufacturing planning, tool design and tool design. “The opportunity to have a comfortable retirement is a big topic in America and an important goal for IAM. We want to maintain and improve our defined benefit pensions where we can and improve 401 (k) plans where we don`t,” said Mark Blondin, General Vice President of the Southern Territory. “This treaty was a big step forward on both fronts.” The deal comes at an important time for Lockheed, which is building F-16 fighter jets for export, boosting production of F-22 fighter jets and trying to stay close to the schedule for the development and experimentation of the new joint F-35 fighter for the Pentagon.

The three-year employment contract expires tonight at midnight. The Fort Worth plant will be open tomorrow as usual, and non-striking employees are expected to work as usual. The company has contingency plans to continue operating the facility and critical production tasks. For more information: www.lockheedmartin.com/negotiations/ “I`ve been here for 31 years, and this is the best contract I`ve ever seen,” Farr said. We could have had a little more, but it would not have been worth a strike. “Improvements to this agreement simply would not be possible without strong membership, collective agreement and strong local leadership,” said Bob Martinez, President of IAM International. “I commend the work of District 776 President Paul Black and the District Negotiation Committee, as well as the advice of Aviation Coordinator Terry Smith and GVP Mark Blondin of the Southern Territory.” We are pleased that IAM membership has ratified a new treaty,” said Joe Stout, a spokesman for Lockheed. “The proposal was the result of good faith negotiations between the company and the union committees. It allows our employees to continue to build some of the world`s largest military aeronautical products. The treaty came into force at midnight on June 13.