Boeing Offers 38% Pay Raise; Union Leaders Urge End to Seven-Week Strike

Nov 1, 2024, 03:20 AM

Boeing Co. and the International Association of Machinists and Aerospace Workers have reached a tentative agreement that could end a seven-week strike by 33,000 workers. The union leadership is endorsing the new contract proposal, urging members to 'lock in these gains and confidently declare victory.' The offer includes a 38% wage increase over four years, up from a previously rejected 35%, and a $12,000 signing bonus upon ratification. The compounded wage increase amounts to approximately 43.65%, with the average annual machinist pay reaching $119,309 by the end of the contract. Union leaders said they have extracted all they could from the company. Members will vote on the offer on Monday, November 4. The strike, which began on September 13, has halted most of Boeing's airplane production. Boeing's latest offer aims to address these concerns and bring an end to the prolonged labor dispute.