A fan looks out at the paddock at Churchill Downs before the 151st running of the Kentucky Oaks horse race Friday, May 2, 2025, in Louisville, Ky. (AP Photo/Jon Cherry)
“Pratt and Whitney is a powerhouse in military and commercial aerospace products because our membership makes it so,” David Sullivan, the union’s eastern territory vice president, said in a statement at the time. ”This offer does not address the membership concerns, and the membership made their decision — we will continue to fight for a fair contract.”The company, a subsidiary of Arlington, Virginia-based RTX Corp., had called its earlier wage and retirement proposal competitive, and said its workforce is among the most highly compensated in the region and industry.
The strike has come as RTX faces a potential $850 million hit on profits this year because of tariffs imposed by President Donald Trump, if the tariff rates remain the same through the year. During its first-quarter earnings call on April 22, the company said its Pratt & Whitney and Collins Aerospace subsidiaries would each shoulder just over $400 million of the potential tariffs hit.RTX is predicting $83 billion to $84 billion in adjusted sales companywide in 2025. The company’s first-quarter earnings were $1.5 billion. Pratt & Whitney’s adjusted operating profit in the quarter was $590 million.The company said its earlier contract proposal included an immediate 4% wage increase, followed by a 3.5% increase in 2026 and a 3% increase in 2027. It also included a $5,000 contract ratification bonus and enhanced pension and 401k plan benefits.
Pratt & Whitney makes engines for commercial and military jets, including the GTF line for Airbus commercial jets and the F135 for the military’s F-35 Lightning II fighter aircraft fleet.Democratic U.S. Sen. Richard Blumenthal, who joined the workers on the picket line, called the tentative agreement “a solid step forward for Pratt’s highly skilled machinists, and I hope for a fair settlement soon.”
CAPE CANAVERAL, Fla. (AP) — Amazon’s first batch of
rocketed into orbit Monday, the latest entry in the mega constellation market currently dominated by SpaceX’sAlmost all of Smith’s pay package consists of stock awards, which he can only receive if the company meets targets tied to its stock price and operations for the period from 2024 to 2030. Companies are required to assign a value to the stock awards when they are granted.
Other top earners in the survey include Lawrence Culp, CEO of($74.6 million), David Gitlin at Carrier Global ($65.6 million) and
($61.9 million). The bulk of those pay packages consisted of stock or options awards.The median stock award rose almost 15% last year compared to a 4% increase in base salaries, according to Equilar.