Philly Shipyard, Inc., the only working subsidiary of Philly Shipyard ASA (XOAX: PHLY), right this moment introduced {that a} new four-year collective bargaining settlement has been ratified by the Philadelphia Metal Trades Council (PMTC). The PMTC is the unique bargaining consultant for manufacturing and upkeep workers on the shipyard and consists of 9 unions.
“We are pleased to have successfully ratified this agreement extending our strong partnership with the PMTC,” stated Mike Giantomaso, vice chairman of human sources at Philly Shipyard. “With our record order backlog of nine ships and the currently strong labor market, we believe that this contract will allow our company to offer the competitive compensation needed to attract and retain the talent necessary for carrying out our major shipbuilding projects.”
With the impacts of the COVID-19 pandemic and a nationwide labor scarcity, Philly Shipyard and lots of different corporations have felt the challenges of a highly-competitive hiring market. The yard is hopeful that this collective bargaining settlement will assist to additional place it as an employer of selection and would be the last piece of the puzzle for attracting and retaining gifted staff who can really feel assured in planting roots and constructing out the vessels within the present order backlog and people who observe them.
This settlement additionally underscores Philly Shipyard’s dedication to its apprenticeship program which recruits and trains new shipbuilders who enter the union on day one. Through this program, the corporate and the union proceed to develop stronger whereas constructing ships and careers.
President of the Philadelphia Metal Trades Council, Lou Agre, commented, “The members of the Philadelphia Metal Trades Council are glad that we have been able to negotiate an agreement that benefits our members as well as ensures the future viability of the shipyard. We are proud of our members, the skilled work that they perform, and pipeline of great work for years to follow.”
