On April 7, the IBEW 1245 members at Lockheed Martin ratified a new agreement, with 90% of members voting yes.
The five-year agreement includes a $5,000 bonus upon ratification, a $1.25 equity adjustment on all classifications, and general wage increases of 4% in year one, 4% in year two, 3% in year three, 3% in year four, and 3% in year five. The union also secured a $1,000 COLA bonus, paid in December of each year, and another $500 COLA bonus to be paid January 2024.
We also negotiated an improved 401K plan; a $500 stipend to employees whom provide at least a 90-day advance notice of their intent to retire or voluntarily terminate from the company; and enhanced bereavement leave, from three to five paid days. The union and company agreed to negotiate a new apprenticeship agreement separately.
Negotiations took place at Lockheed Martin in Sunnyvale from April 3-6. The bargaining committee consisted of members Christian Herbert, Ed Cardenas and myself. I want to give proper recognition to Christian Herbert for stepping in last-minute, and we also appreciate that Ed Cardenas was able to work with us via Zoom while on medical leave.
–Cruz Serna, IBEW 1245 Business Rep