UAW Members Vote to Ratify New Contract at General Dynamics' Electric Boat

Union members at General Dynamics' Electric Boat submarine-making unit have voted to ratify a new contract, the United Auto Workers said on Wednesday.

The union, representing over 2,400 marine drafters at Electric Boat, said 85% voted in favor of the ratification of the new five-year agreement which secures a 30% wage increase over the life of the contract and an improved wage progression.

In total, members will see a cumulative $115,000-per-member increase in total compensation during the agreement, UAW said.

The ratification comes over a month after members authorized a strike, demanding cost-of-living adjustments (COLA) to keep up with inflation.

Electric Boat is a part of the defense contractor's marine systems segment, which assembles nuclear-powered submarines for the U.S. Navy.

(Reuters/Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Devika Syamnath)