(Bloomberg) — Boeing Co. and the union representing 33,000 striking workers have come to a new agreement to put an end to a work stoppage that has severely impacted the company’s aircraft production for over a month and strained its financial situation.
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The newly proposed deal, negotiated overnight in Seattle, includes a 35% wage increase spread out over four years, a guaranteed annual bonus of at least 4%, and an extra $7,000 bonus if workers approve the contract, as stated by IAM District 751 in a release on their website last Saturday. A vote for ratification is scheduled for Oct. 23.
The union acknowledged the support of US Labor Secretary Julie Su, who came back to Seattle to help kickstart stalled negotiations. The Labor Department announced on Friday that Su had met with both the union and Boeing’s new CEO Kelly Ortberg multiple times.
“We are eager for our employees to vote on this negotiated proposal,” Boeing mentioned in an email statement.
2024-10-19 10:50:18
Source from finance.yahoo.com