Shipyard contracts feature labor cost relief.

From: Monthly Labor Review | Date: August 1, 1987 | Copyright information

Shipyard contracts feature labor cost relief

Newport News Shipbuilding and Dry Dock Co. and Steelworkers Local 8888 negotiated a 46-month contract that included several features intended to restrain labor cost increases. The Virginia shipyard, the Nation's largest, had asked for cost relief to improve its competitive position in the industry, following the loss of several submarine building contracts to General Dynamics Corp. This led to the layoff of 1,250 employees in November 1986 and cuts in health insurance benefits for employees not represented by the union.

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