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Cenveo CBA Approval Sought

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Cenveo filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing Cenveo to enter into new collective bargaining agreements (CBAs) with Bindery Union Local 4c and Press Union Local 4c.

The motion explains, “Cenveo currently employs approximately 5,200 employees in the United States. As of the date hereof, Cenveo is a party to 18 collective bargaining agreements, which cover approximately 1,535 active unionized employees in approximately 14 locations. Approximately 64 employees are represented by the Bindery Union and approximately 50 employees are represented by the Press Union (collectively, the ‘Represented Employees’)….The terms of the New Union CBAs were a result of extensive discussions between Cenveo and the Unions. Furthermore, Cenveo has previewed the terms of the New Union CBAs with the Creditors’ Committee and its DIP Lenders, and neither objected to the proposed terms.”

In addition, “The New Union CBAs, if approved, will maximize stakeholder value. More specifically, the New Union CBAs have a shorter duration than the prior collective bargaining agreements, reduce hourly wage rates, and implement the SubPay program. The New Union CBAs also permit Cadmus and Cenveo to integrate equipment and employees from closed Cenveo sites in a cost-efficient manner, without regard to seniority. While the New Union CBAs provide significant benefits to Cenveo these agreements are not without costs, including the requirement that Cadmus increase its contribution to participating Represented Employees’ medical costs. That said, the New Union CBAs are favorable to Cenveo and its stakeholders and Cenveo, accordingly, respectfully requests that the Bankruptcy Court grant the requested relief to the extent applicable.”

The Court scheduled an April 12, 2018 hearing to consider the motion.

Read more Cenveo bankruptcy news.

The post Cenveo CBA Approval Sought appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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