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
Breast cancer screening should start at age 40, Canadian Cancer Society says
The Canadian Cancer Society says all provinces and territories should lower the starting age for breast cancer screening to 40.
DEVELOPING Live updates as Stormy Daniels testifies at Trump hush money trial
Adult film star Stormy Daniels is on the stand a second time Thursday as former U.S. president Donald Trump’s hush money case continues in Manhattan. Follow live updates here.
Ontario family receives massive hospital bill as part of LTC law, refuses to pay
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Canadian-Israeli man shot dead in Egypt; claim links killing to Gaza
A Canadian man 'of Jewish Israeli descent' has been shot dead in the Egyptian city of Alexandria in a suspected criminal case, a security source said, while a previously unknown militant group said it carried out the attack in reaction to the war in Gaza.
Here are the ultraprocessed foods you most need to avoid, according to a 30-year study
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
Ontario man frustrated after $3,500 paving job leaves driveway in shambles
An Ontario man considering having his driveway paved received a quote from a company for $7,000, but then, another paver in the neighbourhood knocked on his door and offered half that rate.
Why these immigrants to Canada say they're thinking about leaving, or have already moved on
For some immigrants, their dreams of permanently settling in Canada have taken an unexpected twist.
Bank of Canada says financial system is stable, but risks remain
The Bank of Canada says the Canadian financial system is stable, but risks remain due to debt servicing costs among households and businesses and stretched valuations of financial assets.
BREAKING Sheldon Keefe out as head coach of Toronto Maple Leafs
The Toronto Maple Leafs have fired head coach Sheldon Keefe. The team made the announcement Thursday after the Original Six franchise lost to the Boston Bruins in seven games in the first round of the Stanley Cup playoffs.