Feb. 19, 2013
Responding to SPEEA's contract vote
Tonight, professional engineers represented by SPEEA approved the company's best-and-final contract offer. While we are pleased with the vote by our professional engineers, I can tell you that the company and its negotiations team are deeply disappointed that our technical employees rejected the contract and authorized a strike.
Our goal throughout this entire process was to make sure SPEEA-represented employees were rewarded for the contributions they bring to this company every single day. We believe we've done that with an offer that leads the market in every way.
The realities of the market require us to make changes so we can invest in new products and keep winning in this competitive environment, which will allow us to continue to provide a solid future for our team. That's why our proposal to move future hires to an enhanced 401(k)-style retirement plan is so important, as we have repeatedly emphasized over the course of these negotiations.
I still hope we can all come together and focus on the challenges facing the company.