Bath Iron Works Union Approves New Contract, Avoiding Strike Replay

Bath Iron Works and its largest union, Machinists Union Local S6, have reached an agreement on a new three-year contract, avoiding a repeat of the 2020 strike. The contract includes the largest pay raises in the union's history, ranging from 4% to 9.5% in the first year. General Dynamics, the owner of the shipyard, has agreed to increase 401(k) contributions and offer a Roth 401(k) starting in 2024. The contract also includes higher health insurance premiums and the elimination of an unpaid week off in December. The previous strike and the pandemic had caused delays in ship production, but production has since increased.