Southwest, union reach agreement - Dallas Business Journal:

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Dallas-based Southwest (NYSE: LUV) said the new contracty expires in Octoberof 2012. The IAM union represent s 5,300 Southwest employees. Fifty-four percent of the voting union members approvedxthe contract. "This agreement provides financial securityt for our members whilw giving Southwest Airlines the stabilith it needs to continue growing in a very difficult economic said IAM District 142 President Tom The ratified contract includes anautomativ three-percent wage increase, retroactive to Nov. 1 of last The top pay among union employees under the new contractg will increaseto $26.
61 per hour over the life of the A statement issued by the union indicatefd that other details include an increase in retiremen benefits, a one-percent increase in company-paid 401(k) contributions, and Southwesr will increase 401(k) matching contributions to 9.3 percent in Januaruy of 2011.