Green Mountain Power (NYSE: GMP) and the International Brotherhood of Electrical Workers (IBEW) Local 300 announced today that the Company’s 104 union employees voted to ratify a new four-year contract.
The contract provides for wage increases of four percent, four percent, 3.5 percent and 3.5 percent over four years; includes some one-time wage increases for certain jobs to bring them more in line with the market; improves some benefits to employees, such as increasing the Company’s contribution to the 401k program by one-half a percent up to a 4.5 percent; and establishes safe guidelines for one-person work to significantly improve operations and to respond better to customer needs.
The new contract was developed under a new “mutual gain” process, where management and union members worked together to identify issues, research data and develop solutions.
“Working so closely with union-management teams in the mutual-gain process was deeply satisfying. We were able to work together to find solutions that benefit customers, help us meet financial goals and meet the needs of employees,” said Mary Powell, Green Mountain Power senior vice president and chief operating officer. “The approach is in line with our new culture of literally breaking down walls to improve communications and relationships,” she added.
George Clain, president and assistant business manager of the IBEW Local 300, said, “We were able to solve issues much more effectively working in a cooperative process. The end result is an agreement that helps to protect the quality of life for retired and active employees at Green Mountain Power and provides for streamlining the operations of the company.”
The new contract takes effect on January 1, 2004.
Green Mountain Power Union Employees Ratify Contract
Submitted by tim
on