NEW BOEING PROPOSAL: @IAM751 and W24 members will ultimately decide if this specific proposal is sufficient in meeting their very legitimate needs and goal of achieving respect and fairness at Boeing. https://t.co/w6ETuBd8wp
— Machinists Union (@MachinistsUnion) October 19, 2024
Boeing machinists are set to vote on a new contract proposal that could potentially end a strike that has lasted over a month. The strike, which began on September 13, has significantly impacted Boeing’s production capabilities. The new proposal includes substantial concessions, such as a 35% wage increase over the next four years, a $7,000 signing bonus, guaranteed minimum payouts in an annual bonus program, and higher contributions to 401(k) retirement accounts.
STORY UPDATED, incl. interview with Boeing Machinists leader
"It's our job to get the best agreement that we can. And that's what we achieved. There's a lot of positive things here"
Machinists vote Wednesday on new offer to end strikehttps://t.co/0EWIjy2kX7 via @seattletimes
— Dominic Gates (@dominicgates) October 19, 2024
The International Association of Machinists and Aerospace Workers District 751 stated that the proposal “warrants presenting to the members and is worthy of your consideration.”
The ratification vote is scheduled for Wednesday, the same day Boeing reports its full financial results.
.@Boeing statement: “We look forward to our employees voting on the negotiated proposal.” https://t.co/FCfq55Z2aR
— David Shepardson (@davidshepardson) October 19, 2024
A ratified contract would mark a significant victory for CEO Dave Calhoun, who took over in August with a mandate to overhaul the company.
Boeing contract vote looms
President Biden expressed support for the collective bargaining process through a White House spokesperson, emphasizing that the contract’s ultimate decision lies with the union workers. Boeing, facing financial strain from ongoing safety and production issues, said in a statement, “We look forward to our employees voting on the negotiated proposal.” Earlier this month, the company announced it would take charges amounting to approximately $5 billion in its commercial and defense units and predicted a significant financial loss for the quarter. The negotiation for this proposal came after intensive talks with Acting U.S. Secretary of Labor Julie Su.
The deal aims to address the workers’ demands and improve their compensation and benefits, thereby averting further disruption in Boeing’s operations. The decision on whether to accept the deal now rests with the workers, who will vote in the coming days. A positive vote could see a swift resolution to the ongoing dispute and a resumption of work at Boeing’s facilities.
