Convair Supervisory Newsletter, Number 471, July 13, 1960 Page: 1 of 2
This periodical is part of the collection entitled: Convair/General Dynamics Newsletters and was provided to The Portal to Texas History by the Lockheed Martin Aeronautics Company, Fort Worth.
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ISSUED WEEKLY TO ALL SUPERVISORY PERSONNEL - - - - . No 471
13 July 1960 FORT WORTR
COMPANY-UNION Agreements have been signed with the OEIU, IBEW, and
AGREEMENTS SIGNED the FITU effective 4 July 1960. Agreements have
also been signed with the IAM and certain other
unions at the San Diego, Pomona and Astronautics Operating Divisions.
These agreements provide for general wage increases and increased bene-
fits for hourly employees as follows:
GENERAL INCREASE EFFECTIVE 4 JULY 1960 RETROACTIVE TO 6 JUNE 1960
Employees on the active payroll on Monday, 4 July 1960, will re-
ceive a four cents (4 ) per hour increase in their basic hourly wage
rate retroactive to 6 June 1960. The present payment of five cents
(5$) per hour cost-of-living will be incorporated into the base rate
of pay. The minimum and maximum rates for each job classification and
labor grade will be increased by nine cents (9$) per hour.
GENERAL INCREASE - EFFECTIVE 10 JULY 1961
Employees on the active payroll 10 July 1961 will receive an in-
crease in their basic hourly wage rate of three cents (3$) per hour.
The minimum and maximum rates for each job classification and labor
grade will be increased accordingly.
COST-OF-LIVING BENEFITS
Cost-of-living benefits are discontinued until July 1961.
EXTENDED LAYOFF BENEFITS
A procedure will be established within the near future whereby
eligible employees will be entitled to Extended Layoff Benefits pro-
viding up to $50.00 for each full year of qualifying service to a
maximum of $500.00.
BASIC RETIREMENT BENEFITS
Basic Retirement Benefits are increased from $1.75 to $2.00 per
month for each year of credited service.
GROUP INSURANCE
Life Insurance Benefits for employees who retire under the Company-
sponsored Retirement Plan will be increased from $500.00 to $1,000.00.
The IAM at Fort Worth rejected the Company's offer last Sunday.
At the request of the IAM the Company will meet with their representa-
tives within the near future.
The Company has not proposed any substantial changes in the basic pro-
visions of the current agreement.
Fran Wg vis
Manager 4
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Davis, Frank W. Convair Supervisory Newsletter, Number 471, July 13, 1960, periodical, July 13, 1960; Fort Worth, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1149674/m1/1/?rotate=180: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Lockheed Martin Aeronautics Company, Fort Worth.