Stagehands Union and Broadway Producers Reach Agreement

News   Stagehands Union and Broadway Producers Reach Agreement
 
Local One of the International Alliance of Theatrical Stage Employees (IATSE) and The League of American Theatres and Producers reached an agreement in the wee hours Tuesday morning (4:45 AM specifically), it was announced.

The deal came after nearly 19 straight hours of negotiation. No details were revealed as of press time. However, according to a spokesman, it resembles "the three-year agreement reached in October with The Nederlander Organization, which called for increases retroactive to the expiration of the old contract and provided for overall increases of 3.5 % the first year, 3.5% the second year and 4% the third year. The increases in the Nederlander contract included a 3% wage increase in each of all three years, an additional pension contribution of 0.5% in the third year (for a total 7.5% pension fund contribution), and yearly welfare increases of 0.5% a year for each contract year (for a total of 13.5% welfare fund contribution by the third year)." The talks had reached a critical stage over the past few days, the rank and file of Local One voting the executive committee the right to call a strike and to increase the union's strike fund by one million dollars.

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