For more information contact: Tom Jones (USW) – 610-213-2690
PITTSBURGH – In response to Armstrong World Industries’ (NYSE: AWI) announcement that it will add $60 million in stock to its Executive Long Term Incentive Program and increase cash payouts up to $5 million per participant, the United Steelworkers (USW) today accused the company of forcing concessions on current workers and retirees to reward the company’s top corporate bosses with millions of dollars in potential incentive compensation.
USW Local 285-441 President John Bevel said that in order to add real value to the company, Armstrong should end the unfair lockout at its ceiling plant in Marietta, Pa. and negotiate in good faith for fair contracts with its USW represented employees in Lancaster, Pa. and Macon, Ga.
Bevel said that Armstrong’s Building Products Division continues to be the main source of the company’s profit and that instead of stripping away health insurance from the retirees who built it; the company should be looking to trim expenses elsewhere.
“Armstrong’s corporate bosses have taken tens of millions of dollars in retiree health care from our members and retirees,” he said. “We don’t build great companies and consumer products in America by cutting workers’ healthcare, seniority rights and pensions.”
Bevel said that it would take the average worker at Marietta 212 years earn what Armstrong CEO Matt Espe received in six months. He said the union members are simply asking for fairness and good faith they have already earned through many years of hard work and sacrifice.
“We union members built this company and its reputation for quality products and flooring,” he said, “so we will not be treated like second class citizens while the top executives take home millions in salaries and bonuses.”
The USW represents about 800,000 working men and women in a variety of sectors and industries, making it the largest industrial union in North America.
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