Lockheed Martin workers end strike after approving labor deal

June 03, 2025 06:39 AM AEST | By EODHD

Google News:

Lockheed Martin workers end strike after approving labor deal — Image source: Kalkine Media

Recent News

What are next big copper projects? UBS tells when equipment makers cou...

EUR/USD poised to rack up more gains as ECB and Fed rate paths set to...

Carney launches ‘One Canadian Economy’ Act to unify trade, approvals

Trump signs orders to enhance drone defenses, support supersonic trave...

[Lockheed Martin headquarters located in Silicon Valley] Sundry Photography/iStock Editorial via Getty Images A month-long strike involving around 900 Lockheed Martin (NYSE:LMT [https://seekingalpha.com/symbol/LMT]) employees in Orlando and Denver has come to an end following the ratification of a new labor agreement. The employees, represented by the United Auto Workers (UAW), walked off the job over concerns related to low starting wages and the extended timeline to reach maximum pay rates for their roles. The newly approved contract addresses those issues by raising the minimum hourly wage from $15 to $20 and increasing annual wage progression to $1 per year of service, up from the previous $0.60. Lockheed Martin (NYSE:LMT [https://seekingalpha.com/symbol/LMT]) confirmed in a statement that the new contract will run through April 11, 2030, the Orlando Business Journal reported. The company added that the agreement enables it to remain focused on supporting national defense priorities.

Lockheed Martin (LMT [https://seekingalpha.com/symbol/LMT]) employs roughly 14,000 people across its Central Florida operations, including more than 5,700 at its missiles and fire control site on Sand Lake Road. Union members at that location are mainly responsible for assembling, inspecting, testing and transporting defense hardware. MORE ON LOCKHEED MARTIN * Lockheed Martin Corporation (LMT) Bernstein's 41st Annual Strategic Decisions Conference (Transcript) [https://seekingalpha.com/article/4790644-lockheed-martin-corporation-lmt-bernsteins-41st-annual-strategic-decisions-conference] * Lockheed Martin Needs The Golden Dome Win [https://seekingalpha.com/article/4789149-lockheed-martin-needs-the-golden-dome-win] * Lockheed Martin Corporation (LMT) Bank of America Industrials, Transportation & Airlines Key Leaders 2025 Conference (Transcript) [https://seekingalpha.com/article/4786847-lockheed-martin-corporation-lmt-bank-of-america-industrials-transportation-and-airlines-key] * Dividend Roundup: Nvidia, Merck, Lockheed Martin, Meta Platforms, and more [https://seekingalpha.com/news/4453817-dividend-roundup-nvidia-merck-lockheed-martin-meta-platforms-and-more] * Lockheed Martin awarded $509.76M U.S. Air Force contract modification [https://seekingalpha.com/news/4453217-lockheed-martin-awarded-509_76m-u-s-air-force-contract-modification]

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.