Boeing offers pay raise to reach tentative deal with union on weekly machinists’ strike
Boeing CEO Kelly Ortberg moved to Seattle while the company’s 33,000 workers hit the picket line. (Credit: Derrick Louie for Clarity Northwest Photography & Laura Halliday for Realogics Sotheby’s International Realty and KCPQ)
Boeing is offering its striking workers a new fund to end the ongoing strike.
Boeing and its labor union announced a tentative agreement on Saturday. The striking workers will vote on the agreement on Wednesday.
The International Association of Machinists and Aerospace Workers Local 751 told Reuters the new package includes a 35% pay increase over four years, a new incentive program and a $7,000 confirmation bonus.
The organization also offers employees 12% on 401(k) contributions, and a one-time contribution of $5,000 to employee retirement accounts.
BOEING STRIKE: WHICH AIRLINES ARE AFFECTED?
Boeing 737 Max. (Geoffroy Van Der Hasselt/AFP via Getty Images / Getty Images)
The strike, which has been going on for five weeks, mainly affects Boeing workers on the West Coast. About 33,000 mechanics have refused to work on the 737 MAX and its 767 and 777 widebodies since Sept. 13.
Boeing said it “looks forward to our employees voting on the negotiated proposal,” but striking workers have rejected Boeing’s proposals in the past, even proposals approved by union officials.
BOEING PLANS TO RAISE ADDITIONAL $35B FOR FINANCING AS STRIKE CONTINUES
Workers protest outside the Boeing Co. facility. during a strike in Everett, Wash., September. 16. (M. Scott Brauer/Bloomberg via Getty Images/Getty Images)
About 95% of West Coast workers rejected Boeing’s contract for a 25% wage increase over four years in September, just before the strike began. Previous offers included a $3,000 signing bonus.
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| BA | This company BOEING CO. | 155.00 | -0.31 |
-0.20% |
The union said the new deal was helped by the help of US Acting Labor Secretary Julie Su, and told the striking workers that it “deserves your consideration.”
Boeing corporate world headquarters in Chicago. (Photos by Scott Olson/Getty Images)
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FOX Business has reached out to Boeing for comment.
Reuters contributed to this report.
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