Following extensive discussions, dockworkers on the U.S. East and Gulf coasts have settled a long-standing wage dispute by approving a six-year contract reportedly valued at $35 billion.
The International Longshoremen’s Association (ILA) union voted on the latest wage contract proposed by the U.S. Maritime Alliance of Ports and Shipping Companies, which received overwhelming majority approval.
The new contract will ensure that dockworkers receive a 62% pay rise over six years, which will increase hourly wages from $39 to $63.
The contract also provides workers with: “full protection against automation, full container royalty funds returned to the ILA, increases in contributions to money purchase plans, and a strengthening of the MILA health care plan.”
Dennis A. Daggett, the ILA’s Executive Vice President, stated, “These negotiations were the most contentious since 1977, and there is no doubt that we could not have achieved this historic victory without the full support of our membership. The men and women of the ILA stood strong, and because of that, we won.”
The ILA will sign the agreement in March, after which the contract will take effect.
By CEO NA Editorial Staff
