Stock Market News

MGM Grand Detroit workers approve new contract with significant wage hikes

2023.12.04 21:44


© Reuters.

DETROIT – After nearly seven weeks of striking, employees at MGM Grand Detroit have ratified a historic five-year contract that ushers in the largest wage increase the casino’s workers have seen to date. The deal, negotiated by the Detroit Casino Council, includes an immediate raise of $3 per hour, with an overall increase of $5 per hour over the duration of the contract. This increment represents an average pay rise of 18%, a substantial move towards meeting union demands tied to Detroit’s inflation rate.

The agreement, which affects approximately 1,700 workers, not only addresses wages but also ensures reduced workloads and maintenance of current healthcare costs. Gabriel Robert Hernandez from Teamsters Local 1038 commended the contract for securing essential health benefits and enhancing earnings for the employees.

Additionally, the new contract introduces a range of other benefits:

  • An optional second-year bonus
  • A new 401(k) matching scheme capped at $1,000
  • The establishment of Juneteenth as a paid holiday

These terms contrast with the shorter strikes at MotorCity Casino and Hollywood Casino at Greektown, which concluded after just over a month. Around 2,100 workers at these casinos accepted similar terms, including immediate hourly wage increases and technology safeguards without raising health care costs.

Patrick Nichols from UAW Local 7777 confirmed that union members at MGM Grand Detroit approved the new deal after a 47-day strike. The comprehensive agreement also embeds technology protections that guarantee union advisement on job-impacting technological advancements.

Matt Buckley of MGM Resorts (NYSE:) International expressed satisfaction with the return of staff and their continued commitment to guest services. He acknowledged some workers’ dissatisfaction but stressed the contract’s significance for Detroit’s economic future.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 85,922.02 1.45%
ethereum
Ethereum (ETH) $ 1,649.18 0.63%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.18 1.80%
bnb
BNB (BNB) $ 590.13 0.15%
solana
Solana (SOL) $ 132.96 0.22%
usd-coin
USDC (USDC) $ 1.00 0.00%
tron
TRON (TRX) $ 0.252244 1.60%
dogecoin
Dogecoin (DOGE) $ 0.160553 2.18%
cardano
Cardano (ADA) $ 0.646909 1.07%
staked-ether
Lido Staked Ether (STETH) $ 1,643.50 0.60%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 85,986.04 1.76%
leo-token
LEO Token (LEO) $ 9.43 0.43%
avalanche-2
Avalanche (AVAX) $ 20.10 0.28%
chainlink
Chainlink (LINK) $ 12.76 0.40%
stellar
Stellar (XLM) $ 0.24348 0.12%
the-open-network
Toncoin (TON) $ 2.97 4.48%
usds
USDS (USDS) $ 1.00 0.01%
sui
Sui (SUI) $ 2.22 3.34%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 1.62%
hedera-hashgraph
Hedera (HBAR) $ 0.167586 0.31%
wrapped-steth
Wrapped stETH (WSTETH) $ 1,972.56 0.22%
bitcoin-cash
Bitcoin Cash (BCH) $ 334.66 1.57%
litecoin
Litecoin (LTC) $ 78.21 0.69%
polkadot
Polkadot (DOT) $ 3.73 1.85%
hyperliquid
Hyperliquid (HYPE) $ 16.57 5.17%
bitget-token
Bitget Token (BGB) $ 4.34 1.65%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999943 0.19%
pi-network
Pi Network (PI) $ 0.743476 1.37%
ethena-usde
Ethena USDe (USDE) $ 0.99956 0.06%
weth
WETH (WETH) $ 1,644.58 0.56%
whitebit
WhiteBIT Coin (WBT) $ 27.92 0.29%
monero
Monero (XMR) $ 214.02 2.84%
wrapped-eeth
Wrapped eETH (WEETH) $ 1,751.47 0.63%
uniswap
Uniswap (UNI) $ 5.43 0.61%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 86,017.05 1.50%
dai
Dai (DAI) $ 1.00 0.02%
pepe
Pepe (PEPE) $ 0.000007 1.06%
okb
OKB (OKB) $ 52.30 1.27%
aptos
Aptos (APT) $ 4.76 2.12%
ondo-finance
Ondo (ONDO) $ 0.882977 0.60%
gatechain-token
Gate (GT) $ 22.58 0.17%
tokenize-xchange
Tokenize Xchange (TKX) $ 33.91 0.89%
near
NEAR Protocol (NEAR) $ 2.12 0.64%
susds
sUSDS (SUSDS) $ 1.05 0.02%
blackrock-usd-institutional-digital-liquidity-fund
BlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00 0.00%
internet-computer
Internet Computer (ICP) $ 4.96 0.95%
crypto-com-chain
Cronos (CRO) $ 0.085938 0.25%
mantle
Mantle (MNT) $ 0.694345 0.32%
ethereum-classic
Ethereum Classic (ETC) $ 15.34 0.10%