Steelworkers in Massena voting Friday on strike against Alcoa, Arconic
MASSENA -- Unionized Alcoa and Arconic workers will vote on Friday on whether or not to authorize a strike.
Voting will take place for USW Local 420A members at their union hall, 24 Woodlawn Ave., from 5 a.m. to 9 p.m. that day, according to a letter from Mark Goodfellow, union president and business agent, posted to the Local 420A Facebook page.They agreed last week that the hourly workers represented by the union would continue to work under the terms of their current deal until a new one is reached.
According to a statement from USW posted on the local 420A Facebook page, “Arconic has proposed to freeze benefits for hourly pension plans as of Dec. 31, 2020 and replace them with age-based contributions to a 401k savings plan.”
They say the proposed freeze will “undermine retirement security” and “shift the risk of poor investment performance to employees.”
“Arconic has enough cash for its executives, lenders and stockholders, but not to fund the promises to retirees or provide retirement security to active employees,” the USW statement says.
The Local 420A union in a Facebook post also calls out Alcoa and Arconic executives for raking in millions of dollars in salaries.
“As we continue to negotiate a fair contract, it is important to keep in mind the compensation of Alcoa’s CEO Roy Harvey, and Arconic’s CEO John Plant. Mr. Harvey received a total compensation in 2018 of $13,196,569. This was an annual increase of $2,476,446. A 23% raise. On the Arconic side in 2018, ousted CEO Chip Blankenship received total compensation worth $17,724,625. This is 353 times the total compensation of the median Arconic employee. New Arconic CEO John Plant has signed on for one year. His annual salary is $1.6 million, but will receive 1 million shares of common stock at the completion of his one year. He is also entitled to an annual bonus of up to $20 million dollars. Pretty good at the top. To hell with any concessions!!!! We will stand together in solidarity brothers and sisters,” the April 20 post reads.