West Coast Port Labor Dispute ~ Tentative Agreement Reached!
An agreement anticipated to bring stability to supply chains through West Coast ports for the foreseeable future was tentatively reached last week. The agreement results in a sizeable pay increase and bonus structure for port workers on the West Coast. The agreement results in an estimated increase in Dockworker pay of approx. 32% through 2028 and an estimated one-time bonus of approx. $70 million dollars in recognition of efforts and sacrifices made during the pandemic which is referred to as a “hero” bonus.
While the six-year agreement must be ratified by employers and dockworkers, includes improvements in benefits and other…