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Labor Pact Clears Way for Wheeling-Pittsburgh Steel's Exit from Bankruptcy.
Knight Ridder/Tribune Business News, July, 2003
By Jim McKay, Pittsburgh Post-Gazette Knight Ridder/Tribune Business News
Jul. 31--Union employees of Wheeling-Pittsburgh Steel Corp. ratified a contract agreement yesterday that creates a new pension plan for current workers and will aid a smaller company's emergence from bankruptcy.
The United Steelworkers union said the five-year agreement, patterned after contracts previously reached with U.S. Steel and the International Steel Group, freezes wages for the first year and reorganizes work in the mills. Both the management and hourly work force will be reduced, said David McCall, the union's lead negotiator.
The agreement includes enhanced pensions for about 650 hourly workers who will not be replaced if they leave, while another 250...
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