The accepted labor agreement will raise average machinist wages from roughly $76,000 to $119,000 a year by 2028, according to the company.
Boeing's striking factory workers voted to accept the company's revised contract offer—promising a larger wage increase and bonus payments—and end a seven-week-long work stoppage, setting the stage for the crisis-ridden company to restart production lines for its key aircraft.
Unionized machinists at Boeing voted Monday to accept a contract offer and end their strike after more than seven weeks, clearing the way for the aerospace giant to resume production of its bestselling airliner and generate much-needed cash.
A Boeing machinist union based in Seattle approved a new contract offer by a 59% vote after nearly two months on strike. The offer includes a 38% raise over four years and bonuses.
Boeing workers voted to accept a new labor contract and end a strike that's crippled jetliner production for more than seven weeks. Some 59% of union members voted in favor of the accord, according to the International Association of Machinists and Aerospace Workers district representing the some 33,000 striking workers.
Machinists are set to return to work after ratifying a contract with a 38% pay raise.
The deal includes a 38% raise for employees over four years, as well as a higher 401(k) contribution and a $7,000 ratification bonus.
Here is a side-by-side comparison of the key elements of three Boeing contract deals for U.S. West Coast factory workers that have gone to votes since September, according to details provided by the company and the union.
Unionized Boeing workers on Monday voted to accept a contract proposal, ending a seven-week strike. The deal increases pay by 38% over four years and gives workers a bonus for ratifying the contract.
Boeing is considering selling parts of its space and defense businesses, focusing on non-core assets to improve its balance sheet. The most likely divestments include the Commercial Crew Program and the United Launch Alliance joint venture with Lockheed Martin. Boeing's space segment, facing competition and underperformance, presents more divestment opportunities compared to its defense segment.
Members of Boeing's (BA) machinists union are voting today on a third contract agreement that could potentially end a crippling strike that has lasted nearly two months.
The 33,000 workers who've been on strike since September could return to work this week