Boeing’s strike ends after machinists approve new labor contract with 38% wage increases
NBCNov 04, 2024
Union members from the International Association of Machinists and Aerospace Workers (IAM) in Seattle on Monday voted to accept the latest pay offer from Boeing, ending more than seven weeks of strikes that reportedly cost the aviation giant $50M a day.
Members voted by 59% to approve the latest offer. It included a 38% payrise over four years, a $12K signing bonus and retains a performance bonus that the company wanted to eliminate.
"This is a victory. We can hold our heads high," John Holden, the union's chief negotiator, said. "Now it's our job to get back to work."Members voted by 59% to approve the latest offer. It included a 38% pay rise over four years, a $12K signing bonus, and retained a performance bonus that the company wanted to eliminate.
Boeing will be relieved to have this issue resolved as it was bleeding millions of dollars a day as a result of these strikes. It will now be able to resume production of its planes and generate some much-needed cash for the company.
While union members were not able to have all of their demands met, this was the best deal that was available. The union will continue to fight for the other issues, including restoration of the defined-benefit pension scheme.