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 workers will vote next Wednesday on a new contract proposal that could end the ongoing strike which has disrupted airplane production for over a month. The International Association of Machinists and Aerospace Workers announced Saturday that it will hold a ratification vote on the newly negotiated contract. The proposal includes a 35% pay raise over four years, up from the previously offered 30%.
It also increases upfront bonuses to $7,000 per worker from the former $6,000. However, the contract does not restore a traditional pension plan, which was a key demand of the union. Instead, it increases the contributions Boeing will match in 401(k) retirement plans.
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
“We look forward to our employees voting on the negotiated proposal,” Boeing said in a statement.
.@Boeing statement: “We look forward to our employees voting on the negotiated proposal.” https://t.co/FCfq55Z2aR
— David Shepardson (@davidshepardson) October 19, 2024
About 33,000 members of IAM District 751 began striking on September 14, halting the production of Boeing 737s, including the 737 Max, along with 767s and 777s.
Boeing contract vote approaches amid strike
Boeing continues to build 787 Dreamliners at a nonunion plant in South Carolina despite the strike. The strike represents another setback for Boeing, whose reputation and finances have been battered by manufacturing issues and multiple federal investigations this year. Earlier this month, Boeing announced plans to cut 10% of its global workforce, or around 17,000 employees, amid the strike.
An S&P Global report estimates that the company is losing $1 billion a month due to the demonstration. Acting U.S. Secretary of Labor Julie Su met with both parties earlier this week. “With the help of Acting U.S. Secretary of Labor Julie Su, we have received a negotiated proposal and resolution to end the strike, and it warrants presenting to the members and is worthy of your consideration,” the union said in a statement Saturday.
“President Biden believes the collective bargaining process is the best way to achieve good outcomes for workers, and the ultimate decision on a contract will be for the union workers to decide,” a White House spokesperson said. The Associated Press contributed to this report.
