IAM Members Win Strong New Contract with Schneider Electric

Nearly 200 IAM Union members have ratified a new three-year master agreement with Schneider Electric, an energy management and automation company.

The national agreement covers IAM Local 831 in Cedar Rapids, Iowa; Local 2574 in Huntington, Ind.; and Local 619 in Lexington, Ky. The contract also covers members of the International Brotherhood of Electrical Workers (IBEW) and the International Brotherhood of Teamsters (IBT).

Highlights include annual base general wage increases of over 11% compounded over the three-year agreement, while lower tiers will receive over 18% compounded over the three-year agreement. The contract continues the current healthcare cost share and cost-of-living allowance. It also provides for 401(k) contributions and paid family leave.

“IAM Union members have secured a strong future at Schneider Electric, ratifying a new three-year master agreement,” said IAM International President Brian Bryant. “The deal ensures annual wage increases, maintains healthcare cost-sharing, and enhances benefits like 401(k) contributions and paid family leave. This contract is a victory for working families, protecting their livelihoods while supporting their long-term well-being.”

“This agreement represents a powerful commitment to our members’ futures, delivering wage growth, stable healthcare costs, and enhanced benefits,” said IAM Collective Bargaining Department Director Craig Norman. “This is the best Master Agreement the unions have obtained in over twenty years of negotiations, and it comes through the solidarity of the membership from the floor.”