Kosice, February 7, 2005 - U. S. Steel Kosice and the Unions representing the plant employees are pleased to announce agreement on wages for 2005
as part of the 4 year Collective Labor Agreement /CLA/.
This is the second year that negotiations on wages were completed with not only OZ Metalurg but other unions, NKOS and KOVO also to the bargaining table. 2005 marks
the 5th consecutive year of wage negotiations at USSK and demonstrates the company´s commitment to the employees.
USSK president Christopher Navetta comments: "while negotiations were tough this mutual agreement reinforces the commitment of a fair reasonable approach in
addressing issues concerning our employees. We feel the pay structure we have maintains our competitiveness while also rewarding employees for their hard work and efforts to improve the
company."
Included in the agreement is an increase in average monthly pay of approximately 8%. Base pay for all employees will increase 800 SK per month effective January 1,
2005. Additionally increase in the components of compensation will mean a total increase of 2 350 SK per month.
Also effective January 1, 2005 USSK has introduced single-component pay for all "R" employees and for "THZ" employees up to section head level, and for selected
operations employees and managers up to level of facility head.
To stimulate work in round-clock facilities, the company has increased extra pay for work in non-stop, two and three shifts.
In addition to the above, the company will award specific pay increases for selected employees. Principles and rules for drawing of said resources will be agreed
upon with trade unions, just as in previous years.
The company will continue to payout profit-sharing in the same proportion as in 2004. Company employees will share 7% of each SKK of USSK average consolidated net
profit. This variable portion of pay will continue to be paid in the next calendar month for the employees´ contribution to company success.
Representatives of individual trade unions and USSK have also agreed on paying 13th and 14th salaries to all entitled employees, equaling 100% of tariff - based
monthly pay as at December 31, 2004.
- E N D -
Further information:
Jan Baca
Director Public Affairs
U. S. Steel Kosice, s.r.o.
Tel.: +421 55 673 4476
Fax: +421 55 673 0330
E-mail: jbaca
