Boeing\u00a0machinists approved a new labor deal Monday, ending a more than seven-week strike that halted most of the aircraft production at the company that was already struggling with mounting\u00a0losses.<\/p>\n
Machinists voted 59% in favor of the new contract, which includes 38% wage increases over four years and other improvements.<\/p>\n
The approval is a relief for Boeing\u2019s new CEO Kelly Ortberg, who took the top job in August to steer the company through its safety and manufacturing crises.<\/p>\n
President Joe Biden congratulated the union and the company \u2014 one of the country\u2019s top exporters \u2014 on reaching the deal. Acting Labor Secretary Julie Su had gotten involved with the negotiations, meeting with both sides.\u201cThis contract provides a 38% wage increase over four years, improves workers\u2019 ability to retire with dignity, and supports fairness at the workplace,\u201d Biden said in a statement. \u201cThis contract is also important for Boeing\u2019s future as a critical part of America\u2019s aerospace sector.\u201d<\/p>\n
It was the machinists\u2019 third vote since September, when the 33,000 workers, mostly in the Seattle area, walked off the job after overwhelmingly rejecting a proposal promising a 25% raise, far short of the 40% the union sought. They rejected another sweetened proposal late last month.<\/p>\n
\u201cThis is a victory. We can hold our heads high,\u201d said International Association of Machinists and Aerospace Workers District 751 President Jon Holden as he announced the results late Monday.<\/p>\n
The machinists, who build planes such as the bestselling 737 Max, 777 and 767 aircraft must return to their jobs no later than Nov. 12 the union said. They could return as early as Wednesday.<\/p>\n
Boeing said machinist pay will average $119,309 at the end of this contract proposal. The first wage increase will be 13%. The contract also increases 401(k) contributions and a signing bonus of up to $12,000 or a combination of a $7,000 bonus and $5,000 401(k) deposit.<\/p>\n
Workers had complained about the skyrocketing cost of living in the Seattle area, where most of Boeing\u2019s aircraft are produced.<\/p>\n
But the union had warned that the latest deal, which was proposed last week, might be as good as workers can expect to get.<\/p>\n
\u201cIn every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor,\u201d the International Association of Machinists and Aerospace Workers District 751 said in a statement then. \u201cWe are at that point now and risk a regressive or lesser offer in the future.\u201d<\/p>\n<\/p>\n
Boeing\u00a0machinists approved a new labor deal Monday, ending a more than seven-week strike that halted most of the aircraft production at the company that was already struggling with mounting\u00a0losses. Machinists voted 59% in favor of the new contract, which includes 38% wage increases over four years and other improvements. The approval is a relief for […]<\/p>\n","protected":false},"author":0,"featured_media":11985,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-11984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/11984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=11984"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/11984\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/11985"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=11984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=11984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=11984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}