Category: Profit Sharing

2019 Q1 Profit Sharing

The financial performance for the 1st quarter of 2019 resulted in profit sharing payment for employees under the Quarterly Bonus Plan. The payout will be $0.40 per eligible hour bonus payment for qualifying employees deposited into your bank account by May 3, 2019.

Profit Sharing Grievance

Brothers and Sisters

On September 20th, 2018 your President {Mike Day}, Vice President {Ryan Mckenzie} and USW Staff Rep {Patrick Veinot} met with the company to discuss the profit sharing grievance. The grievance revolves around the company not providing the Union with A copy of the Audited Consolidated Statement of Income for Evraz Inc.NA Canada. What the company has been providing is merely a spreadsheet with their numbers on them.

The Company has also informed us that they have gone away from the Generally Accepted Accounting Principles {GAAP} , also outlined in the collective agreement and switched to an   International standard. The company contended that they can’t produce just the North American aspect of the audit. They admitted that what the information they have been sending us has been incorrect and they said they have no intention of providing us with what is outlined in the collective agreement but yet stated they are willing to work with the Union. We have requested more information from the company and will keep you informed of where and how this is going.

4th Qrt Profit Sharing

The 4th quarter of 2017 resulted in no payment being made under the plan. The continued commissioning of new equipment and increased costs of input materials had an adverse impact on  profitability. However, with the positive trends  observed in late 2017, they expect to see an improvement in both operational and financial performance over time

Profit Sharing Plan

All Bargaining Unit Employees

Our financial performance for the 1st quarter resulted in no payment being made under the plan.

Looking Forward
Our focus continues to be on safety, quality, improving our cost position and developing the products necessary to meet the critical demands of our customers.

Profit Sharing 1st Quarter 2015

The 1st Quarter 2015 Profit Sharing as per our Collective Bargaining Agreement is $1.28 per eligible hour.  Evraz has stated it will be  deposited into your bank account on April 30, 2015 or sent to Great West Life to be deposited into the account you have elected.

2nd Quarter 2014 Profit Sharing

The 2nd Quarter, 2014 profit sharing amount resulted in a payout of $.96 per eligible hour and it will be deposited into your bank account on August 1, 2014 or sent to Great West Life to be deposited into your designated account based upon your election.

Profit Sharing Q1 2014

The 1st Quarter, 2014 profit sharing amount resulted in a payout of $1.31 per eligible hour
and it will be deposited into your bank account on April 30, 2014 or sent to Great West Life
to be deposited into your designated account based upon your election.

CBA Expiry Date One Year Away

What will the next year bring for the members of this local? After yesterdays announcement of 0.00% profit sharing. Layoffs in the last quarter. The clamp down on overtime in recent months and the lack of preventative maintenance in the mills. All apparent cost cutting measures we are witnessing and feeling, are glaring examples of just a few of the band-aid solutions the company is using on the backs of our members because of it’s mismanagement and continued financial troubles.

What’s in store for us as a union? As the company dreams up more cost cutting measures for our next CBA?

One thing is for certain Brothers and Sisters. A year from now, we cannot not and we will not, allow ourselves to even think of accepting anything but a fair and decent Collective Agreement. Don’t tell me that some executive share holder didn’t receive stock dividends this last quarter on your back breaking work. Remember a year from now Brothers and Sisters, remember. We are a world class workforce, that deserves a world class contract.

We will not submit

We will not lie down

We we not roll over

We will not comply without question

We will not go quietly

We will not shut up

We will not sit down

We will stand Up! Fight back!

Solidarity Forever!

Corey Liebrecht, President

 

Second Quarter Profit Sharing

The news was not good today as the company announced the results of the second quarter profit sharing which has resulted in a zero payment to the plan. Management says the decrease was been attributed to a 3% decline in steel flat rolled products. A decline of 12% in small diameter pipe due to low drilling activity in Western Canada. Increased imports and stoke optimization programs launched at their North American Facilities. Large diameter pipe production in the Spiral mills remains strong and at full capacity. The company expects an increase in the output demand of steel, both flat and tubular in the third quarter.

Profit Sharing/C.O.L.A Announcement

Evraz has released the 2012 4th quarter Profit Sharing amount this morning at $1.06 per eligible hour. Direct deposit to bank accounts will happen March 1st, 2013.

C.O.L.A numbers have also been released and adjusted to $0.54 per straight time hour worked. A decrease from $0.75.

As always this Local strives to keep the membership informed promptly and will continue to post the most current information we receive.

Solidarity Forever!