The union representing the employees of Northstar Aerospace has taken over the facility in Milton. <\/p>\n
According to Unifor, Northstar Aerospace is relocating the equipment from its Milton facility to Chicago and Windsor and closing the Milton plant. They allege the company is refusing to meet a 25 per cent pension shortfall for current and future retirees. <\/p>\n
The union says that based on the type of pension plan in place, Northstar is not legislatively required to compensate for the shortfall. But Unifor National President Jerry Dias says given the companys considerable resources, they should. <\/p>\n
This plant is owned by Wynnchurch Capital, a major private equity company (they) certainly have the financial resources to treat our members with respect. <\/p>\n
Dias says Unifor and Local 112 have attempted negotiations with Northstar since January to ensure that current pension provisions and benefits are protected. The company has allegedly refused to discuss the matter. <\/p>\n
The union took over the facility at around 4 a.m. on Thursday morning. More than 250 people have set up picket lines outside the plant and more are expected to join the protest. <\/p>\n
Dias says that for employees who have been retired for several years, a sudden steep reduction in pension is completely unacceptable. <\/p>\n
The fact that they are nonchalant about our current retirees taking a 25 per cent reduction is outrageous, said Dias. These are some of the wealthiest private equity companies in the world for them the pension shortfall is nickels and dimes, but its not nickels and dimes to the people that depend on it for basic survival. <\/p>\n
CityNews has reached out to Northstar Aerospace for a statement but has not yet heard back. <\/p>\n
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Union takes over Northstar Aerospace facility in Milton - 680 News<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The union representing the employees of Northstar Aerospace has taken over the facility in Milton. According to Unifor, Northstar Aerospace is relocating the equipment from its Milton facility to Chicago and Windsor and closing the Milton plant. Continue reading