Boeing And Workers Reach Tentative Deal To End Strike
Date
10/19/2024 10:02:27 AM
(MENAFN- The Peninsula)
AFP
Washington: Boeing and its striking Seattle-area workers have reached a tentative deal to end a more than month-long stoppage, the union said Saturday.
Boeing confirmed a deal was reached and said it includes a 35 percent pay raise over four years and a one-time ratification bonus of $7,000.
Union members will vote Wednesday on the proposal to end the strike, which began September 13 in a dispute over pay and other compensation issues, the International Association of
Machinists and Aerospace Workers said on social media platform X in a message to its members.
"It warrants presenting to the members and is worthy of your consideration," IAM Union District 751 said.
The strike by some 33,000 unionized workers, mainly in Washington state, halted work at two Seattle-area assembly plants and production of its 737 MAX planes.
The workers were seeking hefty wage hikes and other gains, complaining of more than a decade of near-flat wages amid inflation.
The strike cost an estimated $7.6 billion in direct losses -- including at least $4.35 billion for Boeing and almost $2 billion for its suppliers -- the Anderson Economic Group consultancy said Friday.
Among the sweeteners Boeing is now offering are enhanced contributions to workers' retirement plans.
Boeing said in a one-sentence statement, "We look forward to our employees voting on the negotiated proposal."
The work stoppage added to the company's litany of problems.
Boeing sank into further turmoil in January when a window panel blew out mid-flight on an Alaska Airlines plane, necessitating an emergency landing on a 737 MAX, the aircraft involved in two fatal crashes in 2018 and 2019.
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