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Steel, which is reviewing multiple proposals ranging from partial acquisition to an entire buyout, is embroiled in a tussle with the United Steelworkers union. The company’s unionized workers say they essentially have the power to veto any transaction they do not approve of. PARCEL DELIVERY Teamsters union workers at United Parcel Service ratified a new five-year contract in August, a deal that raises pay, eliminates a two-tier wage system for drivers, provides another paid holiday and ends forced overtime.
Valued at more than $1 billion, the three-year contract includes increases in minimum salaries and a new bonus paid by streaming services, the union said. Hollywood actors reached a tentative agreement with major studios on Nov. 8 to resolve the second of two strikes that rocked the entertainment industry as writers and performers demanded higher pay in the streaming TV era. Union leaders representing the workers have threatened further walkouts. Thousands of Los Angeles-area hotel staffers went on a three-day strike in July over improved wages, benefits and working conditions.
The union had been in talks with the refiner since summer, when it rejected a company proposal and sought additional benefits for holiday and vacation hours and pay, among other improvements. (Reporting by Mrinalika Roy in Bengaluru, additional reporting by Seher Dareen and Sourasis Bose; Editing by Sriraj Kalluvila, Eileen Soreng, Pooja Desai, Shounak Dasgupta and Aurora Ellis) CONSUMER & RETAIL In Las Vegas, thousands of workers reached agreements with casino operators and resorts Caesars Entertainment, MGM Resorts and Wynn Resorts in November to avoid strikes that could have crippled tourism in the city.
MEDIA Members of the Writers Guild of America (WGA) approved a new three-year contract with major studios on Oct. They returned to work on Sept. 27 after negotiators reached a tentative agreement. Film and television writers had walked off the job in May over compensation, staffing and residual payments, among other issues. Pacific Northwest, the latest in a series of labor negotiations that brought double-digit wage increases despite a tight labor market and stubborn inflation.