Lockheed Sets Tentative Union Contract Pact

Lockheed Corp. said Sunday it reached a tentative labor agreement with the International Assn. of Machinists and Aerospace Workers covering about 20,000 union members.

The tentative pact, reached at about 1:30 a.m. Sunday, still must be ratified by rank and file members, who last Sunday rejected management’s latest offer by a 98% margin.

IAM workers at Lockheed have been working under an extension of the previous three-year contract, which expired in October.

Terms of the proposed labor agreement were not immediately available, subject to a ratification vote.