Striking Boeing Union Endorses 38% Wage Hike Offer
Striking Boeing Union Endorses 38% Wage Hike Offer
The Facts
The International Association of Machinists and Aerospace Workers announced Thursday that it has endorsed Boeing's latest contract proposal, which includes a 38% pay rise over four years.The International Association of Machinists and Aerospace Workers announced Thursday that it has endorsed Boeing's latest contract proposal, which includes a 38% pay increase over four years.
Over 33K Boeing union members have been on strike since Sept. 13, which has halted production of commercial aircraft and caused an estimated loss of $10B according to consulting firm Anderson Economic Group.Over 33K Boeing union members have been on strike since Sept. 13, which has halted production of commercial aircraft and caused an estimated loss of $10B.
The Spin
Boeing machinists have sacrificed over the years and deserveddeserve a firmfair contract. The improved contract proposal demonstrates the power of worker solidarity and collective action, resulting in significantly better terms than the initial offer, — including guaranteed minimum bonus payouts and enhanced retirement benefits.
The strike had severely impacted Boeing's financial stability during an already challenging period, forcing necessary workforce reductions and threatening the company's competitive position in the global aerospace market. The end of the dispute would mark a positive moment for Boeing in what has been a difficult year for Boeingthe aerospace titan.
