We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
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The 3,000 workers at JBS beef plant in Greeley will vote on a contract that the union’s negotiating committee has rejected because it shifts millions of dollars of health-insurance costs from the company to workers, the union said Wednesday in a statement. The proposed contract also gives JBS the right to change health benefits without the union’s consent.
The union also disapproves of the contract because it would last for six years, which the union says is too long to anticipate future cost-of-living increases. The proposal also eliminates additional compensation that workers receive when they are required to wear certain kinds of protective equipment.
“The company’s demands are unwarranted as they have not stated that the need for such devastating cuts are due to financial reasons,” the union said in a statement.
“While the company is aware that UFCW may contemplate a strike to influence negotiations, we remain confident that both parties can continue to negotiate in good faith and arrive at an amicable solution in a timely manner,” JBS said in a statement.
The union must give JBS three-days notice if workers intend to end their contract extension before they strike.