PITTSBURGH — U.S. Steel and the union representing more than 11,000 of its employees, including those at the Mon Valley Works, have reached a tentative agreement on a new four-year contract.
The tentative agreement includes a 5% base wage increase each year for four years, a $4,000 bonus payable upon ratification, increased contributions to pensions and uncapped profit-sharing, according to the Pittsburgh-based steelmaker. Current health care options will be maintained under the deal.
The company is also committing to a $1 billion capital investment in operations staffed by United Steelworkers members over the life of the contract. In his announcement, U.S. Steel President and CEO David B. Burritt noted the ratification process typically takes several weeks.
