April 20, 2024

Machinist Union Members Win New Contract at Schneider Electric, Strike Ends

For Immediate Release

Washington, D.C., October 19, 2014 – Members of Local 2069 of the International Association of Machinists and Aerospace Workers (IAM) voted today to accept an improved offer from Schneider Electric which ends a two-week strike by more than 300 IAM members in Schneider’s Square D facility in Peru, Indiana.

“Our members stood strong and won improvements that they can be proud of,” said IAM Director of Collective Bargaining Tom O’Heron. “Schneider Electric is an extremely profitable company and our members, who make those profits possible, fought for their rightful share of the company’s success.”

Local 2069 members won improvements in key areas of the new three-year contract. In addition to a signing bonus of $1,600, there are general wage increases of 3 percent in year one, 2 percent in year two and 2 percent in year three. IAM negotiators also addressed members’ concerns that the gap between lower and higher-paid workers was growing too wide.

Although the new pact freezes the traditional Defined Benefit Pension as of December 31, 2015, IAM negotiators achieved company contributions in the transition to a Defined Contribution plan that are higher than the company originally proposed.

“Both local businesses and other local area unions gave our members tremendous support,” said O’Heron. “Local 2069’s Bargaining Committee also did a great job keeping our members and the community informed throughout the entire process. Together, it made a big difference and we are grateful that it helped lead to an agreement.”

The IAM is one of North America’s largest industrial trade unions representing nearly 600,000 active and retired members. Visit www.goiam.org for more information.