Steelworkers Approve Contract
Pittsburgh, PA – Thousands of steelworkers have voted overwhelmingly in favor of a new, five-year contract with U.S. Steel. That clears the way for the company's acquisition of bankrupt National Steel, which operates Granite City Steel in southern Illinois.
Granite City Steel is one of the Metro-East's largest employers.
The approval was 3-1 by members of the United Steelworkers of America will mean the loss of thousands of jobs but it also secures pension and benefits for many more.
US Steelhas said it plans to eliminate about 5,700 jobs in order to improve productivity at US and National Steel plants. That's about one in five existing jobs.
The union says job cuts will effect a larger percentage of managers and supervisors while protecting the benefits of 19,000 active workers at both companies, and many more retirees.