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October 1, 2015
Bank of Labor Donates to Steelworkers Locked Out at ATI


WASHINGTON, D.C.  October 1, 2015-- Bank of Labor is proud to stand in solidarity with the 2,200 Steelworkers who, since 2015, have been locked out of 12 production facilities operated by Allegheny Technology Industries (ATI).


The workers had refused a final offer from ATI that included cutting health insurance benefits, eliminating retiree health and life insurance benefits for new hires, replacing the pension with a 401(k) for new hires, and giving the company greater latitude to contract out work done by union members. The final offer called for annual lump sum payments of $1,500 instead of hourly wage increases.


"The hard working members of the United Steelworkers built ATI into a strong company, and they shouldn't be asked to accept dramatic cuts to their job security and healthcare and be forced to work longer hours for less overtime pay while ATI give its CEO a pay raise," said Bank of Labor Chairman and CEO Newton B. Jones.


"Bank of Labor is pleased to make a donation to support the locked-out-workers-- the same workers who previously gave up their benefits and wages a few years ago, to help keep the company afloat, only to be shafted now," said Jones.






Bridget Martin

Marketing President -- East Region

Bank of Labor