Boeing’s strike ends after machinists approve new labor contract with 38% wage increases
NBCOCT 20 2024
Union members from the International Association of Machinists and Aerospace Workers (IAM) in Seattle voted to accept the latest pay offer from Boeing on Monday, 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% pay rise over four years, a $12K signing bonus, and retained a performance bonus that the company wanted to eliminate.
"This is a victory. We can hold our heads high," Jon Holden, the union's chief negotiator, said. "Now it's our job to get back to work."
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This deal is a band-aid solution that fails to meet some of the striking workers' most essential demands. theThe union members will continue to fight for what they deserve, including the restoration of the defined-benefit pension scheme. This debacle is far from over.