Boeing’s strike ends after machinists approve new labor contract with 38% wage increases

Boeing workers vote to accept deal, end strike

Independent

Boeing factory workers vote to end seven-week strike and accept pay deal

Newsweek

Union Ends Strike, 'Happy Election Day! Boeing Workers Have a Contract!'

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.

AP News

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."

Reuters

Meanwhile, in a statement, Boeing CEO Kelly Ortberg welcomed the outcome. "While the past few months have been difficult for all of us, we are all part of the same team," he said. "We will only move forward by listening and working together. There is much work ahead to return to the excellence that made Boeing an iconic company."

While the latest offer also secured increased pension contributions from Boeing, it did not restore an old defined-benefit plan that employees had wanted the firm to reinstate.

Holden acknowledged that this was likely why 41% voted against the latest offer. "They weren't wrong in feeling the way they did," he said. "I agree with them. We just couldn't get the pension out of this company. We'll continue working on that issue."

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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.

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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.

Boeing factory strike ends as workers vote to accept contract

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 the restoration of the defined-benefit pension scheme.

There's a 1% chance that Boeing will release a new midsize aircraft, likely called the 797, into commercial service before 2030, according to the Metaculus prediction community.

Metaculus

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Boeing 797 by 2030?

Jason Redmond/AFP/Contributor via Getty Images

Boeing Strikes End as Workers Vote to Accept Latest Deal

In an act of self-sabotage, Boeing workers held the company hostage for seven weeks, allowing it to bleed millions of dollars a day. While Boeing is relieved to have this issue resolved and is ready to resume production of its planes and generate some much-needed cash, it has an uphill battle as it's in a weaker position than it was before.

The Machinists Take Boeing Hostage Union Strike Layoffs 165Ac5F

This deal is a band-aid solution that fails to meet some of the striking workers' most essential demands. The 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.

Boeing Strikes End as Workers Accept Latest Deal

Boeing Strikes End as Workers Vote to Accept Latest Deal

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Boeing Strikes End as Workers Accept Latest Deal

Boeing Strikes End as Workers Vote to Accept Latest Deal

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