Lump-sum payments, wage increases part of contract: IAM
Members of the International Association of Machinists and Aerospace Workers (IAM) Local 2113 ratified a new three-year collective agreement on March 11 with Veoneer Canada in Markham, Ont.
The collective agreement has a two-tier wage system which provides wage and pension increases for tier-one workers of a lump sum in the first year and a total of 3.75 per cent increase in years two and three. Tier-two workers received a wage increase of 8.75 per cent over the life of the agreement, said the union.
Other agreement highlights include improved overtime language, improved benefits including increased vision-care and tool allowances and improved contract language, said IAM.