Weyerhaeuser Reports Work Stoppage in Oregon and Washington
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.
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
SOURCE Weyerhaeuser Company
Weyerhaeuser Co.
Symbol: WY
CIK: 106535
Exchange: NYSE
Founded: 1900 (124 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Timber
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
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Last updated: 2024-05-12 - v1.3