Weyerhaeuser Announces Resolution of Work Stoppage in Oregon and Washington
Normal operations to resume with approval of new contract with IAM
SEATTLE, Oct. 28, 2022 /PRNewswire/ --Weyerhaeuser Company (NYSE: WY) today announced the successful resolution of a work stoppage involving members of the International Association of Machinists and Aerospace Workers union 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, and the approval of a new contract will result in the restoration of operations at all sites.
"We know this has been a difficult process for everyone involved, and we have appreciated the patience and professionalism of all parties as we worked through the negotiation," said Devin W. Stockfish, president and chief executive officer for Weyerhaeuser. "Our people are what make Weyerhaeuser special, and we are committed to providing safe, reliable jobs with competitive wages and benefits that support our employees and their families. We believe this contract accomplishes those goals, and we are excited to welcome everyone back and resume normal operations as soon as possible."
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