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Lockheed Machinists OK New Labor Deal, End Strike

Bloomberg BusinessWeek (06/28/12) Angela K. Brown

Lockheed Martin machinists have ended their 10-week strike. Members of the International Association of Machinists and Aerospace Workers District Lodge 776 voted to approve a new labor deal that includes annual pay raises beginning at 3% the first year. In May, the company began hiring about 500 temporary employees at its Fort Worth plant, which manufactures F-35 stealth fighter jets. The temporary workers will be let go by Monday, when union members return to work, says Lockheed spokesperson Joe Stout.