excerpt:
later:"Dr Pepper Snapple and the union representing 300 workers at the Mott’s apple juice plant in Williamson, N.Y., announced a settlement late Monday that ends a 16-week strike and includes a wage freeze, but not the pay cuts the company had demanded.
In the three-year deal, the Retail, Wholesale and Department Store Union persuaded the company to drop its demand to freeze pensions for current workers, although newly hired workers will not have pensions, but 401(k) plans..."
"Under the agreement, Dr Pepper Snapple, which also markets 7Up, Hawaiian Punch and Canada Dry, will save money on its retirement plans. While the company dropped its proposal to freeze pensions for current workers, the union in exchange agreed to lower the dollar-for-dollar match for current workers’ 401(k)’s to the first 2 percent of pay from the originally proposed first 4 percent. Before the strike, the match was for the first 5 percent of pay. For newly hired workers, the company will match the first 4 percent of their pay.
The deal calls for a $1,000 signing bonus and for the company to absorb 80 percent of health-care costs and the workers 20 percent."
-KD
2 comments:
I'm glad the strike's over & that the strikers have won something.
Back in August one of your respondents asked why the same logic that was used to justify seeking lower wages paid to the rank-and-file wasn't also used to justify seeking lower wages paid to the managerial ranks.
Surely, many of the managers could have been replaced with equally qualified, lower-paid personnel, no?
And perhaps too the DPS Board of Directors could be replaced with equally qualified, lower-paid directors.
Why should the logic of paying only the market-clearing wages have been applied only to the rank-and-file when the management & board could have led the effort by exhibiting a willingness to make sacrifices themselves?
What's good for the goose is good for the gander, right?
May it all turn out for the best.
-Aeschylus
Thanks for posting this update, KD.
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