IAM District 70 members at Spirit AeroSystems will receive a profit sharing payout significantly higher than previous years thanks to forward-looking negotiations and company earnings that exceeded expectations. The payout will occur on February 26, 2015 and covers 7,324 hourly employees in Wichita, KS; Chanute, KS and Kinston, NC.
The average employee in the Wichita facility will see a payout of over $4,500.
“We know Spirit AeroSystems has the best of the best when it comes to the aviation workforce,” wrote IAM Aerospace Coordinator Ron Eldridge and District 70 President and Directing Business Representative Frank Molina, Jr. “Both Spirit AeroSystems and the IAM recognize your commitment to excellence, dedication to the company’s success, and desire for a bright future together.”
“We’ve entered an era in which profit sharing can be just as critical to a good contract as wages and work rules,” said IAM International President Tom Buffenbarger. “This is a testament to a far-sighted negotiating process that takes into account the future success of the company. Congratulations to the hard-working men and women in the IAM-Spirit bargaining unit.”