Weyerhaeuser Reports Work Stoppage in Oregon and Washington

Rhea-AI Summary

Weyerhaeuser Company (NYSE: WY) announced a work stoppage affecting its operations in Oregon and Washington due to a strike by members of the International Association of Machinists and Aerospace Workers union. Approximately 1,200 IAM employees are involved. Collective bargaining has been ongoing since May, with Weyerhaeuser expressing disappointment in the strike decision but committing to good faith negotiations. The company aims to minimize supply disruptions while continuing discussions to reach a beneficial contract for both employees and the company.

Positive

• Ongoing collective bargaining with IAM since May.
• Commitment to support employees and negotiate in good faith.

Negative

• Work stoppage impacting multiple operations in Oregon and Washington.
• Strike began after the final offer was presented, indicating potential negotiations breakdown.

 IAM walkouts impact multiple Wood Products and Timberlands sites  

SEATTLE, Sept. 13, 2022 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced that as of this morning a work stoppage involving members of the International Association of Machinists and Aerospace Workers union is impacting its operations in Oregon and Washington. Weyerhaeuser has approximately 1,200 employees who are members of IAM, including employees in the company's Wood Products and Timberlands organizations.

"We have been formally engaged in collective bargaining with IAM since May, and we have made several offers related to wages and benefits," says Denise Merle, senior vice president and chief administration officer for Weyerhaeuser. "After we presented our final offer, IAM workers at multiple sites went on strike late last night. While we are very disappointed in their decision to walk out, we are committed to supporting our employees and negotiating in good faith with union representatives. We are prepared to continue discussions to produce a contract that is beneficial for employees and sustainable for the company across business cycles."

Weyerhaeuser will continue working closely with customers and other partners in the region to minimize supply disruptions.

ABOUT WEYERHAEUSER

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in America. Our company is a real estate investment trust. In 2021, we generated $10.2 billion in net sales and employed approximately 9,200 people who serve customers worldwide. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com. 

For more information contact:
Analysts – Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342

 

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SOURCE Weyerhaeuser Company

FAQ

What caused the work stoppage at Weyerhaeuser?

The work stoppage at Weyerhaeuser was caused by a strike initiated by members of the International Association of Machinists and Aerospace Workers union.

How many employees are involved in the Weyerhaeuser strike?

Approximately 1,200 employees who are members of the IAM union are involved in the strike.

What is Weyerhaeuser's response to the IAM strike?

Weyerhaeuser expressed disappointment in the decision to strike but remains committed to negotiating in good faith.

Where is the Weyerhaeuser strike occurring?

The strike is impacting Weyerhaeuser operations in Oregon and Washington.

What is Weyerhaeuser's stock symbol?

Weyerhaeuser's stock symbol is WY.