The bankruptcy court announced today that it will approve the confirmation of Libbey’s plan of reorganization, a signed order should be entered this week.
Our new CBAs will go into effect when the plan of reorganization goes into effect, which is expected to occur by the end of October. The company is working to complete the final details.
Thanks to the solidarity of the union membership and the tireless commitment and dedicated work of the bargaining committees, the company has reorganized its business and will exit bankruptcy with a business plan to keep our facilities operating.
More importantly, the sacrifices we have chosen to make will provide Libbey the financial flexibility it needs to continue production and provide some security for our jobs without undermining decades of the collective bargaining progress.
We have provided the company what it needed to emerge from bankruptcy and allowed all of Libbey's stakeholders to avoid the tremendous risk associated with management's motion to reject our contracts.
Thank you for your steadfast support and patient solidarity throughout this process. We have proven once again that even though union workers did not create the company's financial problems, we are standing united and working together to find a solution.
As always, please stay focused on working safely and keeping each other safe at work and in the community.
In Solidarity – USW/IAM - Libbey Bargaining Committee
