pensions

  • Wealthy Defense Contractor Pushes Machinists to Strike

    Lockheed Martin has seen fit to distribute nearly $20 million annually to politicians in Washington, and to pay its CEO nearly $150 million in the last five years. But executives can’t seem to find the money to pay for new hires' pensions or to maintain comprehensive health coverage at its F-35 jet plant in Fort Worth, Texas.

  • Steelworkers at Oil Refiner Tesoro Ready for Strike
    Patrick Young
    Apr 30 2012 - 10:49am

    The oil refiner Tesoro took a $40 million loss after an explosion last year that claimed seven lives. Management is trying to recoup the money by forcing workers to pay for its mistakes, leading Steelworkers to prepare for a strike.

  • Rhode Island Pension Cuts Set Chilling Precedents
    Brian Chidester
    Apr 19 2012 - 5:03pm

    If you thought retiring would help you avoid the ruination of living standards brought on by the economic crisis, Rhode Island’s pension overhaul just proved you wrong. Pension cuts are hurting every worker—current, retired, and future.

  • NY Pension Cuts Fuel Insurgent Public Employees
    Jon Flanders
    Apr 2 2012 - 1:33pm

    New York's governor has led an assault on state employees, spearheading a recent drive for a pension cut. A new caucus inside an influential public sector union is determined to roll back the attacks and re-energize the union.

  • Vermont Postal Unions and Occupy Unite to Save the Mail
    Liz Blum
    Mar 26 2012 - 12:14pm

    In the face of huge cuts planned for the Postal Service, dozens of facilities threatened with closure have won a reprieve. That's giving hope to Vermont postal workers and supporters fighting to save the mail and good union jobs.

  • Labor Overlooks Bipartisan Attack on Federal Workers

    It’s a strange disconnect: what union leaders expect from their political allies and what they actually get. The latest example comes from the largest federal workers union, which Democrats just forced to take a pension hit estimated to cost workers $15 billion.

  • Bankruptcy Returns as a Tool to Crack Unions
    Mischa Gaus
    Mar 5 2012 - 9:44am

    With $4 billion cash in hand, why did American Airlines declare bankruptcy? Corporations are turning to bankruptcy courts not necessarily because they can’t pay their bills—but because they can negotiate with a hammer.

  • Stealing the Nest Egg

    When millions lost their jobs and homes when the credit bubble burst in 2008, one slower-motion rip-off gained speed as well. In 2009, 50 million workers lost over $1 trillion invested in their 401(k) retirement accounts.

    The dream of a dignified retirement didn’t just evaporate, however. It has been systematically stolen over decades.

  • Millions Set to Strike in Britain
    Kim Moody
    Nov 29 2011 - 9:18am

    As many as 2.5 million public sector workers will strike across Britain on November 30. The one-day action contests the government’s plan to make public employees work longer, contribute more to pensions, and receive less.

  • Strike Beats Back Pension Cuts at NY Nuclear Plants
    Howie Hawkins and Vincent Lloyd
    Aug 5 2011 - 11:10pm

    Older workers defended pension benefits for younger workers in a successful strike at two nuclear reactors in Oswego, New York. IBEW Local 97’s strike drew notable community support, aimed at protecting union jobs and benefits, but also nuclear safety as a skeleton crew ran the plant.