Lockheed Martin and Machinists Reach Agreement

(Reuters) - Lockheed Martin Corp workers who build the F-16 and F-35 fighter planes voted on Thursday to accept a new labor contract that would provide yearly pay increases of 2.5 percent to 3 percent and bonus payments, their union said. The vote ends a nine-week strike by more than 3,600 members of the International Association of Machinists and Aerospace Workers union in Texas, California and Maryland. Bob Wood, a spokesman for District Lodge 776 of the union, said the Lockheed labor accord was approved by an 80 percent margin. ...

FORT WORTH, Texas (AP) -- The two-month machinists' strike at Lockheed Martin appears to be nearing an end....

After more than two months on strike, Lockheed Martin machinists are expected to vote this week on a new labor contract after a tentative deal was reached with the company.

Lockheed Martin Corp said on Saturday it had negotiated new contracts with two smaller unions at its Fort Worth, Texas plant, even as a strike by the larger machinists union stretched into a fifth week. ...

(Reuters) - Lockheed Martin Corp said on Saturday it had negotiated new contracts with two smaller unions at its Fort Worth, Texas plant, even as a strike by the larger machinists union stretched into a fifth week.

By Matthew Potter:This week Lockheed Martin (LMT) broke out from the pack of its competitors by reporting growth in both revenue and earnings (see earnings call transcript). Recent trends have seen defense contractors with declining revenue and some profit increases.

WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's top supplier by sales, began using temporary workers on Thursday in place of striking employees at its plant in Fort Worth, Texas, to help meet scheduled deliveries of F-16 and F-35 fighter jets. Fewer than 10 temporary workers, hired through a contractor, were brought in to supplement the "contingency work force" that includes managers, said Lockheed spokesman Joe Stout. Another 50 to 60 temporary workers will be added on Tuesday, and the company will bring in more as needed, Stout said in an email. ...

FORT WORTH, Texas (AP) -- Striking Lockheed Martin workers are picketing outside of a North Texas plant where the aerospace company makes F-35 fighter jets....