Academic journal article Monthly Labor Review

General Dynamics Settlement

Academic journal article Monthly Labor Review

General Dynamics Settlement

Article excerpt

The 1989-90 bargaining round in the aerospace industry ended when negotiators for the General Dynamics Corp. and the Machinists union reached a new 3-year agreement, covering some 10,000 workers at the company's air-craft plant in Fort Worth, TX. General Dynamics, the second largest U.S. defense contractor, produces the F-16 fighter plane for the Air Force at the Fort Worth plant.

Earlier, union members had rejected a tentative contract that provided "substantially the same" terms as the one that was eventually accepted. The earlier proposal, according to the union, was rejected because it was "deficient" in the areas of lump-sum payments, insurance benefits, and job security. Employees reportedly changed their minds about an "acceptable contract" after they were provided with more information about the offer and the financial condition of the company.

The ratified contract provides for wage increases of 5.5 percent immediately and 3 percent in November of 1991 and 1992; a $1,100 ratification bonus; and the continuation of the cost-of-living adjustment clause, which provides for quarterly adjustments equal to 1 cent for each 0.3-point increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers. …

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