NEW YORK ( Reuters) - Alcoa Inc. (AA.N), the world's top aluminum producer, announced on Sunday it had reached a pact with the International Association of Machinists on a new four-year labor agreement at Alcoa's Cleveland Works facility.þþThe agreement, which affects 45 workers, includes a new health-care plan, provides health-care coverage for retirees, calls for annual wage increases and initiates a new attendance policy, among other details.þþEmployees received a $1,500 signing bonus upon ratification of the contract, which takes effect immediately and expires in 2010.þþThe company is also negotiating a new labor contract with 830 employees at the same facility represented by the United Auto Workers Local 1050. The UAW rejected the same pact last week.þþ
Source: NY Times
