Continental Automotive Systems reaches successful negotiation with International Association of Machinists and Aerospace Workers AFL-CIO, Local No. 10
Client(s) Continental Automotive Systems U.S., Inc.
Jones Day represented Continental Automotive Systems U.S., Inc., at the bargaining table, in connection with successful negotiations with the International Association of Machinists and Aerospace Workers AFL-CIO, Local No. 10 for a five year agreement governing terms and conditions of employment at the Company's Newport News, Virginia facility. The CBA achieved labor cost reductions necessary for the development of new product lines at the facility. As part of the agreement, the union agreed to a 2-tier wage system, the implementation of a variable compensation plan based on plant performance, and agreed to allow the Company to restructure its retiree medical liabilities.