1 week Ago By Associated Press
Boeing and the union representing striking machinists negotiated a new contract proposal that would provide bigger pay raises and bonuses in a bid to end a costly walkout that has crippled production of airplanes for more than a month. The International Association of Machinists and Aerospace Workers said early Saturday that it plans to hold a ratification vote Wednesday. The union said the offer would increase pay by 35% over four years, up from 30% the company offered last month.
It also boosts the ratification bonus to $7,000 per worker instead of $6,000. The new offer would not restore a traditional pension plan — a key demand of the 33,000 striking workers — but it would hike the amount of contributions to 401(k) retirement plans Boeing would match. It also would retain performance bonuses Boeing wanted to eliminate and make them at least 4% of pay, the union said.
“The fact the company has put forward an improved proposal is a testament to the resolve and dedication of the (front-line) workers who’ve been on strike — and to the strong support they have received from so many,” union district presidents Jon Holden and Brandon Bryant said in a statement. “We look forward to our employees voting on the negotiated proposal,” Boeing said. The union credited acting Labor Secretary Julie Su for helping produce the new proposal.
Su met with company and union officials this past week in Seattle, an indication of the Biden administration’s concern about the strike’s impact on the economy. Get local news delivered to your inbox!.
