Labor News & Commentary November 5, 2024 Wells Fargo begins contract negotiations, Grindr is accused of retaliatory RTO

[Omaha Steve]

https://onlabor.org/november-5-2024/

By John Fry

John Fry is a student at Harvard Law School.

In today’s news and commentary, the Boeing strike ends; Wells Fargo begins contract negotiations; Grindr is accused of retaliatory RTO; and NYT tech workers go on strike.

Unionized Boeing workers have accepted the company’s latest contract offer, ending what CNN reports has been “the costliest strike in the United States in more than 25 years.” The deal includes a 38% pay raise over four years (the company’s previous offer was 35%) and a one-time ratification bonus of $12,000 (the company’s previous offer was $7,000). While the union did extract significant concessions over the course of the nearly two-month-long strike, Boeing did not agree to reinstitute the workers’ pension plans, instead insisting on retaining its current 401(k) system. Rank-and-file workers’ anger at the loss of the pension plan—which the union agreed to give up in a much-maligned 2014 contract—is widely understood to be one reason why this strike lasted so long, with members twice voting to reject tentative agreements between the company and the union.

Wells Fargo is beginning union negotiations for the first time today, as the store sits down with workers at a New Mexico branch who voted to join the Communications Workers of America last year. More than 20 of the bank’s locations have unionized, including branches in California, Delaware, and Florida. While the union hopes to bargain one nationwide contract for all unionized branches (similar to the effort currently underway at Starbucks), the company intends to bargain store-by-store. Pro-union employees cite the company’s history of illegal activity (for example, a 2016 scandal in which the bank was revealed to create fake bank accounts for millions of its customers) as one reason why a union is necessary.

FULL story at link above.