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The International Longshoremen's Association agreed at the end of September to a concessionary labor contract designed to strengthen pension and fringe benefit plans in ports where those plans are in financial jeopardy.
The ILA amended its contract with a group of containership companies and local port associations to freeze wages and benefits for the next three years and to forgo a $l-per-hour wage increase scheduled for October 1. Shipping companies still must pay that $1 an hour, but the money is to be diverted to distressed pension and benefit plans.
A trend towards moderation in wage demands by longshore labor as a whole was confirmed with the agreement.
The West Coast International Longshoremen's and Warehousemen's Union earlier this year agreed to a new contract that raised wages by only 20 cents an hour in the first year, and froze wages in each of the following two years. Like the ILA pact, the ILWU contract concerned itself more with pensions and long-term job opportunities than wage and benefit increases.
Carriers Container Council. …