Boeing workers to vote Monday on new contract

Boeing struck a tentative contract deal with negotiators for the International Association of Machinists and Aerospace Workers union, Boeing President and CEO Kelly Ortberg said in a Friday statement. Over 30,000 union workers, primarily in the Pacific Northwest, went on strike about seven weeks ago. Union leaders formally endorsed the latest proposal and encouraged members to vote in support in a Thursday statement.

After achieving so much success, staying on strike would not be right, the union said. Striking has achieved everything it could at the bargaining table, and workers risk a lesser offer if this proposal is rejected, the union continued. Many people depend on Boeing, so it’s time for workers to come back together and focus on rebuilding business and delivering the world’s best airplanes, Ortberg said.

What is new about the offer? The latest proposal bumped wage increases up to 38 percent, compounding to over 42 percent throughout the four-year contract. Workers would also receive a $12,000 sign-on bonus that workers can choose to receive baked into their paychecks, 401K contributions, or a combination of both. The last Boeing strike took place in 2008 and lasted for eight weeks.

Dig deeper: Read my report on layoffs amid the worker strike.