STEL SALARIED PENSIONERS ORGANIZATION
Rodney
Mott Letter To Salaried Retirees
May
5, 2006
Benefit Reductions
May 11, 2006
NOTICE TO ALL MEMBERS
UNILATERAL REDUCTION OF SALARIED BENEFITS BY STELCO INC.
The May 5th letter sent to all Salaried Pensioners by Stelco President and Chief Executive Officer Rodney Mott announcing a unilateral action by Stelco Inc. to reduce benefits for existing salaried pensioners is of serious concern to the SSPO Board Of Directors. Stelco implemented the announced “reforms” with absolutely no prior knowledge, consultation, or discussion with the SSPO Board.
These changes raise serious concerns with respect to the possibility for future such announcements yet to come, along with the apparent lack of sensitivity of the company to existing hardship cases.
At the moment the
situation is being reviewed with our legal counsel, and based on the outcome of
those discussions, the SSPO Board will issue an appropriate response to the
Company. At that time, the response
will be shared with you.
Sincerely
SSPO Board Of
Directors
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