Vale tentative agreement includes retirement benefits for new hires
The union representing more than 2,400 striking workers at Vale has released some details of a tentative agreement members will be reviewing Tuesday.
Negotiators for Steelworkers Local 6500 say they are unanimously recommending members accept the five-year agreement. The contract includes retirement benefits for new hires, a key sticking point in the labour dispute.
"After two weeks of challenging negotiations, your bargaining committee believes we have achieved this objective," said a post on the union's website.
"This tentative agreement includes significant monetary improvements for existing members and preserves retiree health benefits for all future hires."
It also includes wage increases of 1.5 per cent in the first and last year of the deal, with one per cent increases in years 2-4. Members would also receive a $2,500 "recognition payment" to recognize members' "efforts last year during the pandemic and the acceptance of a status quo contract."
A signing bonus of $3,500 would be paid 30 days after the agreement is ratified.
Workers rejected the last contract offer from the company at the end of May, which was also recommended by the bargaining committee.
Workers were praised for taking a "principled" stand to protect the retirement benefits for future employees, and the bargaining committee said it "energized" them to strike a better agreement.
"Your bargaining committee is positive we could not have reached this settlement without your incredible support and the principled stand you took throughout this difficult process," the union said Tuesday.
"We believe this tentative agreement is worthy of your USW Local 6500 solidarity and values and we are unanimously recommending ratification."
The union is holding information sessions Tuesday on the new contract offer. Three meetings are scheduled – at 11 a.m., 2 p.m. and 5 p.m. All meetings will be held on Zoom, as well as at Steelworkers Hall.
Members who attend the meetings in person are being reminded masks are mandatory, and a maximum of 260 people can be in the hall, because of COVID-19 restrictions.
CTVNews.ca Top Stories
Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Police arrest 3 Indian nationals in killing of B.C. Sikh activist Hardeep Singh Nijjar
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Suter scores late goal, clinches series for Canucks
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
TD worst-case scenario more likely after drug money laundering allegations: analyst
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
Quebec man who threatened Trudeau, Legault online sentenced to 20 months in jail
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
Human remains found in rural Sask. possibly a decade old, RCMP say
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.
Britney Spears 'home and safe' after paramedics responded to an incident at the Chateau Marmont, source tells CNN
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
Canadian doctor concerned new weight-loss drug Wegovy may be used inappropriately
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey is never quitting 'The Price Is Right'
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.