The Related Companies has won wage-cutting agreements with four dozen construction unions in its efforts to save money on the $15 billion development of Hudson Yards. The developer got the groups to agree to cut wages and benefit packages by 10% to ensure they would be commissioned to work on the project, expected to go on for a decade. About 13 million sf of construction is planned for the 26-acre site, which would account for about 39 million hours of work.
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The Related Companies has won wage-cutting agreements with four dozen construction unions in its efforts to save money on the $15 billion development of Hudson Yards.
The Related Companies has won wage-cutting agreements with four dozen construction unions in its efforts to save money on the $15 billion development of Hudson Yards.
Links:
[1] http://therealdeal.com/blog/2012/08/27/related-scores-union-pay-cuts-at-hudson-yards/
[2] http://www.bdcnetwork.com/sites/default/files/images-3_0.jpg
