{"id":9045,"date":"2016-04-27T20:56:00","date_gmt":"2016-04-28T01:56:00","guid":{"rendered":"https:\/\/drummondltd.com\/uncategorized\/2016\/04\/27\/collective-bargaining-2016-press-release-5\/"},"modified":"2022-08-12T15:52:28","modified_gmt":"2022-08-12T20:52:28","slug":"collective-bargaining-2016-press-release-5","status":"publish","type":"post","link":"https:\/\/drummondltd.com\/en\/collective-bargaining-2016-press-release-5\/","title":{"rendered":"Collective Bargaining 2016 \u2013 Press Release # 5"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Cienaga, April 27th, 2016<\/p>\n\n<p class=\"wp-block-paragraph\">Drummond would like to inform that during this week of collective bargaining negotiations with Sintradrummond, Agretritrenes and Sintramineros, the Company presented a new offer to these union organizations. This offer can be summarized as follows:<\/p>\n\n<ul class=\"wp-block-list\"><li>Term of the collective bargaining agreements: 3 years<\/li><li>Signing bonus: <strong>EIGHT MILLION EIGHT HUNDRED THOUSAND PESOS ($8,800,000<\/strong>) subject to the signing of the collective bargaining agreements without a strike<\/li><li><strong>Wage increase: 1st year: 6.80%; for the 2nd: CPI of 2016 + 0.05% and for the 3rd year: IPC of 2017 + 0.10%.<\/strong><\/li><li>Extra-legal bonuses: Remain the same (amount increases as a result of the wage increase)<\/li><li>All benefits recognized to workers in cash are updated for the 1st year: 6.<strong>77%<\/strong>; for the 2nd and 3rd year they will be increased by the CPI for 2016 and 2017, respectively<\/li><li>The in-kind benefits to workers remain the same<\/li><\/ul>\n\n<p class=\"wp-block-paragraph\">As you can see, <strong>NONE<\/strong> of the benefits for workers will be reduced, much less eliminated, by the Company.<\/p>\n\n<p class=\"wp-block-paragraph\">Furthermore, the negotiating committees of the Company and Sintramienerg\u00e9tica have agreed to officially initiate collective bargaining on April 26 of this year, therefore 20 days of direct settlement stage will go until May 15, 2016.<\/p>\n\n<p class=\"wp-block-paragraph\">The Company reiterates its intention to reach collective bargaining agreements with all of the union organizations, bearing in mind the limitations that the current coal market imposes on the industry.<\/p>\n\n<p class=\"wp-block-paragraph\">\u2013<\/p>\n\n<p class=\"wp-block-paragraph\">FOR MORE INFORMATION:<\/p>\n\n<p class=\"wp-block-paragraph\">Pablo Urrutia \u2013 Cel 3187357445, Tel (1) 587 1000 Ext. 5809<\/p>\n\n<p class=\"wp-block-paragraph\">Margarita Saade \u2013 Cel 3163124180, Tel (5) 5719300 Ext. 8581<\/p>\n\n<p class=\"wp-block-paragraph\">Wilma Calder\u00f3n \u2013 Cel 3102876085, Tel (1) 6115014<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Company reiterates its intention to reach collective bargaining agreements with all of the union organizations, bearing in mind the limitations that the current coal market imposes on the industry.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14],"tags":[],"class_list":["post-9045","post","type-post","status-publish","format-standard","hentry","category-press-releases"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - 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