Boeing workers refuse offer of 35 percent wage increase, continue work stoppage
Date
10/24/2024 9:55:13 AM
(MENAFN) Boeing workers, who have been on strike since September 13, have rejected the company’s latest offer of a 35 percent wage increase spread over four years, as the walkout enters its second month. Over 30,000 employees continue to demand more substantial compensation, having initially sought a 40 percent wage increase. The strike began when Boeing’s initial pay rise proposal failed to meet these expectations, prompting workers to take collective action for better terms.
Boeing announced on Wednesday that it had been working diligently to resolve the labor dispute, though the strike has already resulted in a significant financial loss for the company, with a reported USD6.17 billion hit in the third quarter. A tentative agreement was reached following negotiations with the International Association of Machinists and Aerospace Workers (IAM) union. IAM district presidents described the proposal as “an improved offer,” crediting frontline workers for their persistence in pushing for better terms.
Despite the company's efforts, the proposed agreement was overwhelmingly rejected, with 64 percent of Boeing workers voting against it. The offer had included a 35 percent wage increase over four years, a guaranteed 4 percent annual incentive payout, an enhanced retirement pension with a one-time USD5,000 contribution, and an additional USD7,000 bonus. However, workers remained unsatisfied, reflecting the deep-seated frustrations over years of perceived mistreatment and insufficient compensation.
IAM District 751 President Jon Holden and IAM District W24 President Brandon Bryant expressed their disappointment in a joint statement, acknowledging the ongoing struggle: "After 10 years of sacrifices, we still have ground to make up, and we’re hopeful to do so by resuming negotiations promptly.” They added that the vote demonstrated workers’ determination to regain what they believe had been taken from them over the past decade. The union leaders emphasized that the strike symbolizes a broader stand against corporate practices that workers feel have eroded their compensation and well-being over the years.
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