Financial Wisdom Wave
  • Business
  • Stock
  • Politics
  • Tech News
Business

Dockworkers union, port companies reach tentative 6-year deal

by January 9, 2025
January 9, 2025

Tens of thousands of dockworkers reached a tentative agreement Wednesday on a new, six-year contract with the U.S. Maritime Alliance, which represents 14 major ports from Boston to Miami and along the Gulf Coast from Mobile, Alabama, to Houston.

Both sides say the tentative agreement will avoid a looming strike at midnight Jan. 15. “We are pleased to announce that ILA and USMX have reached a tentative agreement on a new six-year ILA-USMX Master Contract, subject to ratification, thus averting any work stoppage,’ the parties announced in a news release.

“This agreement protects current ILA jobs and establishes a framework for implementing technologies that will create more jobs while modernizing East and Gulf coasts ports — making them safer and more efficient, and creating the capacity they need to keep our supply chains strong.’

The primary sticking point in talks between the International Longshoremen’s Association and the Maritime Alliance was automation. ILA President Harold Daggett repeatedly promised dockworkers there would be no automation or semi-automated terminals. ‘I’m going to save everybody’s job when it comes to the ILA. … I’ll shut them down throughout the world.’

The Maritime Alliance has said it was not seeking to implement automation to replace workers.

“What we need is continued modernization that is essential to improve worker safety, increase efficiency in a way that protects and grows jobs, keeps supply chains strong, and increases capacity that will financially benefit American businesses and workers alike,’ it said in November.

The tentative agreement caps months of back-and-forth between the workers and the ports. In September, at least 14 ports across the East Coast shut down for days, stranding billions of dollars in goods. A strike could have exposed the U.S. economy to as much as $4.5 billion of impact per week, according to an estimate last year from J.P. Morgan.

The union says details of the agreement will not be released until rank-and-file workers are able to review it.

This post appeared first on NBC NEWS
previous post
Tariff threat looms over the year’s biggest electronics show
next post
X launches Grok’s iPhone app in the US

You may also like

Palantir joins list of 20 most valuable U.S....

July 26, 2025

FCC greenlights Paramount’s $8 billion merger with entertainment...

July 25, 2025

Microsoft’s Satya Nadella says job cuts have been...

July 25, 2025

UnitedHealth says it faces DOJ investigation over Medicare...

July 24, 2025

Uber will let women drivers and riders request...

July 24, 2025

Alphabet beats earnings expectations, raises spending forecast

July 24, 2025

UnitedHealth says it is facing DOJ investigation over...

July 24, 2025

Lawsuit says Clorox hackers got passwords simply by...

July 23, 2025

Businesses are cautiously spending on corporate travel as...

July 23, 2025

Credit card startup Imprint beats big banks for...

July 23, 2025
Join The Exclusive Subscription Today And Get Premium Articles For Free

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recent Posts

    • Palantir joins list of 20 most valuable U.S. companies, with stock more than doubling in 2025

      July 26, 2025
    • Chart Mania – 23 ATR Move in QQQ – Metals Lead 2025 – XLV Oversold – XLU Breakout – ITB Moment of Truth

      July 26, 2025
    • FCC greenlights Paramount’s $8 billion merger with entertainment group Skydance

      July 25, 2025
    • Microsoft’s Satya Nadella says job cuts have been ‘weighing heavily’ on him

      July 25, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      July 25, 2025
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 FinancialWisdomWave.com All Rights Reserved.

    Financial Wisdom Wave
    • Business
    • Stock
    • Politics
    • Tech News