On Friday, Feb. 23, Lockheed Martin and the International Association of Machinists and Aerospace Workers (IAM&AW) negotiators reached a tentative agreement for a new five-year contract for nearly 4,000 IAM represented employees at Aeronautics and Space.
The tentative agreement includes a competitive pay package, retirement savings and competitive health care coverage for employees and their families.
IAM-represented employees in Palmdale, Marietta, Sunnyvale, Eastern Range, Vandenberg Air Force Base, Clarksburg and Meridian are expected to vote on the proposed agreement on Sunday, March 4, 2018.
This recommendation acknowledges the dedicated work by the union and company negotiating teams to negotiate in good faith for a contract that provides competitive benefits and positions Lockheed Martin to continue to win business in a difficult economic environment.
- WAR MACHINE Boeing’s ‘Son of Blackbird’ hypersonic strike aircraft could go five times the speed of sound
- With U-2 safe, operators vie for greater investment
- Here's the latest updates on where JSTARS, T-X and OAX stand
- Northrop Dinged by Both Army and Air Force on Quality Concerns
- NASA Prepares to Select Contractor to Build Low-Boom Supersonic X-Plane
- The 10 best companies for veterans
This infographic roughly outlines where the dollars go. Some additional details worth noting are that about eight of 10 employees own Lockheed Martin stock and share the benefit of the amount that goes to shareholders, and among the items listed under “Investments,” this segment also funds activities such as training and corporate philanthropy.