• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Investing

Dockworkers union, port companies reach tentative 6-year deal

by January 9, 2025
written by 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
0 comment
0
FacebookTwitterPinterestEmail

previous post
Hedge Fund Two Sigma’s billionaire founders head to arbitration, Bloomberg News reports
next post
Morning bid: Global yield fever cools, but EM conditions tighten

You may also like

Prada Group says it has purchased fashion rival...

December 3, 2025

Dell family donation to offer 25 million kids...

December 3, 2025

Shopify says a daylong Cyber Monday outage has...

December 3, 2025

Apple’s AI chief abruptly steps down

December 3, 2025

Starbucks to pay about $35M to NYC workers...

December 3, 2025

Airbus says most of its recalled 6,000 A320...

December 2, 2025

Campbell’s fires executive accused of racist remarks and...

November 28, 2025

Bitcoin and other crypto assets sink in flight...

November 24, 2025

Stock market sinks as AI and interest rate...

November 24, 2025

U.S. added 119,000 jobs in September, but there...

November 21, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Dell family donation to offer 25 million kids $250 to open ‘Trump accounts’

      December 3, 2025
    • Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

      December 3, 2025
    • Shopify says a daylong Cyber Monday outage has been resolved

      December 3, 2025
    • Apple’s AI chief abruptly steps down

      December 3, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (677)
    • Stock (6,426)

    Latest News

    • Dell family donation to offer 25 million kids $250 to open ‘Trump accounts’
    • Prada Group says it has purchased fashion rival Versace in a deal worth nearly $1.4 billion

    Popular News

    • Shake Shack stock rises on upbeat fourth-quarter results
    • Biden blocks Japan’s Nippon Steel from $15 billion takeover of U.S. Steel

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy