Boeing and its machinists\u2019 union have reached a new contract proposal, the union said Saturday, outlining a deal that could end a more than month-long strike that has hobbled the manufacturers\u2019 aircraft production.<\/p>\n
The ratification vote is set for Wednesday.<\/p>\n
The new proposal includes 35% wage increases over four years, a higher signing bonus of $7,000, guaranteed minimum payouts in an annual bonus program and higher 401(k) contributions among other changes.<\/p>\n
Acting U.S. Secretary of Labor Julie Su met with both parties earlier this week. \u201cWith 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,\u201d the International Association of Machinists and Aerospace Workers District 751 said in a statement Saturday.<\/p>\n
The strike began Sept. 13 after more than 30,000 machinists overwhelmingly rejected a tentative agreement that included 25% wage increases over four years. Boeing later made a sweetened offer but the union blasted it saying it was not negotiated.<\/p>\n
\u201cWe look forward to our employees voting on the negotiated proposal,\u201d Boeing said in a statement.<\/p>\n
Boeing is working to stop bleeding cash as it grapples with a safety crisis stemming from a near-catastrophic door plug blowout on one of its 737 Maxes at start the year and challenges in its other programs.<\/p>\n
The company earlier this month said it will report a deep loss and take charges of about $5 billion in its commercial and defense units. A ratified contract on Wednesday, when Boeing also reports full results, would be a victory for new CEO Kelly Ortberg, who took the company\u2019s top job in August, tasked with reshaping the company.<\/p>\n
On Oct. 11, he announced job cuts of 10% of Boeing\u2019s workforce and that the company will stop making 767s when orders are fulfilled in 2027.<\/p>\n
<\/p>\n
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Boeing and its machinists\u2019 union have reached a new contract proposal, the union said Saturday, outlining a deal that could end a more than month-long strike that has hobbled the manufacturers\u2019 aircraft production. The ratification vote is set for Wednesday. The new proposal includes 35% wage increases over four years, a higher signing bonus of $7,000, guaranteed minimum payouts <\/p>\n","protected":false},"author":1,"featured_media":8936,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-8935","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"_links":{"self":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/8935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/comments?post=8935"}],"version-history":[{"count":0,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/posts\/8935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media\/8936"}],"wp:attachment":[{"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/media?parent=8935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/categories?post=8935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitaltradecenter.com\/index.php\/wp-json\/wp\/v2\/tags?post=8935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}