We are the United Steelworkers, North America’s largest industrial union. We’re 1.2 million members and retirees strong in the United States, Canada and the Caribbean. We proudly represent men and women who work in nearly every industry there is.
The 9/1/18 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 7.5% of the company’s profits, defined as Earnings Before Interest and Taxes (EBIT). The Company reported an unaudited adjusted EBIT of (-$270,889,703.58). As a result, there was no profit sharing generated for the pool using the Basic Labor Agreement calculations.
The 9/1/18 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 7.5% of the company’s profits, defined as Earnings Before Interest and Taxes (EBIT). The Company reported an unaudited adjusted EBIT of (-$270,889,703.58). As a result, there was no profit sharing generated for the pool using the Basic Labor Agreement calculations.
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PEP payments since 9/1/12 are $29,170,000. This is in excess of the $26,500,000 pre-existing pool which was funded by the 2012 Basic Labor Agreement by $2,670,000 of which $0 is being deducted for Q3 2020. The excess of $2,670,000 will roll forward and many accumulate as future deductions from any existing profit-sharing pool.
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PEP payments since 9/1/12 are $29,170,000. This is in excess of the $26,500,000 pre-existing pool which was funded by the 2012 Basic Labor Agreement by $2,670,000 of which $0 is being deducted for Q3 2020. The excess of $2,670,000 will roll forward and may accumulate as future deductions from any existing profit-sharing pool.
The 9/1/18 United Steelworkers Basic Labor Agreement (BLA) provides for a profit-sharing pool of 7.5% of the company’s profits, defined as Earnings Before Interest and Taxes (EBIT). The Company reported an unaudited adjusted EBIT of (-$270,889,703.58). As a result, there was no profit sharing generated for the pool using the Basic Labor Agreement calculations.
PEP payments since 9/1/12 are $29,170,000. This is in excess of the $26,500,000 pre-existing pool which was funded by the 2012 Basic Labor Agreement by $2,670,000 of which $0 is being deducted for Q3 2020. The excess of $2,670,000 will roll forward and may accumulate as future deductions from any existing profit-sharing pool.
In Solidarity, Pete Trinidad Sr. USW Local 6787 President
