Academic journal article Monthly Labor Review

Utility Settlement

Academic journal article Monthly Labor Review

Utility Settlement

Article excerpt

Negotiators for Dayton Power and Light Co. and Local 175 of the Utility Workers reached agreement on a 6-year contract covering 1,600 workers in the Dayton, OH, area. The pact features annual lump-sum payments in lieu of wage increases, enhanced job security, and new company policies dealing with smoking and employees' physical appearance.

The contract calls for lump-sum payments of $1,800 in the first year, $2,600 in the second year, $3,400 in the third year, $4,200 in the fourth year, $5,000 in the fifth year, and $5,800 in the last year. In addition, it translates $3,000 earned as lump-sum payments under the previous agreement into an hourly rate of $1.44 and rolls it in to the base wage rate during the term of the agreement. The pact also institutes a two-tier wage system for new hires, who will be paid $7 an hour for clerical and "inside" work and $7.50 an hour for "outside" work. At the expiration of the previous contract, the average hourly rate was $12.50.

Several changes were made in other economic benefits. The contract introduces a new employee stock option plan, with company contributions of $200 per person in the first year and an additional $100 each year, reaching $700 per person in 1998. It calls for the company to make a dollar-for-dollar match, up to $1,000 per year, in employees' investments in the 401(k) savings plan. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.