Sisters and Brothers,
I am writing to you today to give a quick update on the wage theft settlement. First, I want to start with a change from what I had previously reported. I have now been informed by the Company that the settlement amounts will not be directly deposited into your accounts, and instead will be a paper check in the mail. This check will be coming from Raytheon and not Rust Consulting.
We have 2,700 people that received letters from Rust Consulting stating they are entitled to a settlement amount. Of that, roughly 1,500 submitted the paperwork by the end of June. All have now been vetted and approved by Rust and returned to Raytheon to process the payment. Raytheon is stating that about 500 checks (totaling around $500,000) went out in the mail last Thursday (July 18). The remaining 1000 checks (totaling around $2.5 million) will be going out in the mail tomorrow (July 23). Another 250 people returned the paperwork so far in July, and will be vetted for approval on August 1st, with checks going out shortly thereafter.
I know this has been a long process and want to thank you for being patient as we navigate the process to pay out the largest settlement we have ever seen. Hopefully everyone who submitted their paperwork in June will have their check by the end of this week.
In solidarity,
John J. Bruno
Business Manager / Financial Secretary
Local 1505, IBEW, AFL-CIO
