After a seven-week strike that started on September 13, Boeing workers have voted overwhelmingly in favor of a new contract that guarantees a 38% pay increase over four years. The deal, supported by 59% of the International Association of Machinists and Aerospace Workers (IAM), includes a one-off bonus of $12,000 and adjustments to retirement plans. This strike, which involved approximately 30,000 workers, has led to substantial operational disruptions for Boeing, causing an estimated $10 billion in losses. Union leader Jon Holden termed the deal a victory for fair wages in the workplace, while Boeing's CEO Kelly Ortberg emphasized the need for the company to regain its previous excellence. The strike caught considerable attention, leading to intervention from the Biden administration's acting Labor Secretary. Boeing's ongoing financial difficulties are compounded by recent operational losses and declines in its stock performance, as the company attempts to mitigate the impacts of this labor dispute and ongoing production challenges.
Boeing Strike Concludes with 38% Pay Increase for Workers
Boeing Strike Concludes with 38% Pay Increase for Workers
Boeing employees accept a significant pay deal, bringing an end to a seven-week strike that highlighted labor tensions in the aviation sector.
Boeing Strike Concludes with 38% Pay Increase for Workers
Boeing employees accept a significant pay deal, bringing an end to a seven-week strike that highlighted labor tensions in the aviation sector.
After a seven-week strike that started on September 13, Boeing workers have voted overwhelmingly in favor of a new contract that guarantees a 38% pay increase over four years. The deal, supported by 59% of the International Association of Machinists and Aerospace Workers (IAM), includes a one-off bonus of $12,000 and adjustments to retirement plans. This strike, which involved approximately 30,000 workers, has led to substantial operational disruptions for Boeing, causing an estimated $10 billion in losses. Union leader Jon Holden termed the deal a victory for fair wages in the workplace, while Boeing's CEO Kelly Ortberg emphasized the need for the company to regain its previous excellence. The strike caught considerable attention, leading to intervention from the Biden administration's acting Labor Secretary. Boeing's ongoing financial difficulties are compounded by recent operational losses and declines in its stock performance, as the company attempts to mitigate the impacts of this labor dispute and ongoing production challenges.
Boeing employees accept a significant pay deal, bringing an end to a seven-week strike that highlighted labor tensions in the aviation sector.
After a seven-week strike that started on September 13, Boeing workers have voted overwhelmingly in favor of a new contract that guarantees a 38% pay increase over four years. The deal, supported by 59% of the International Association of Machinists and Aerospace Workers (IAM), includes a one-off bonus of $12,000 and adjustments to retirement plans. This strike, which involved approximately 30,000 workers, has led to substantial operational disruptions for Boeing, causing an estimated $10 billion in losses. Union leader Jon Holden termed the deal a victory for fair wages in the workplace, while Boeing's CEO Kelly Ortberg emphasized the need for the company to regain its previous excellence. The strike caught considerable attention, leading to intervention from the Biden administration's acting Labor Secretary. Boeing's ongoing financial difficulties are compounded by recent operational losses and declines in its stock performance, as the company attempts to mitigate the impacts of this labor dispute and ongoing production challenges.
