Boeing Proposes 38% Pay Hike, $12,000 Bonus; Union Backs Deal to End Strike

Oct 31, 2024, 10:04 PM

Boeing Co. and union leaders representing 33,000 striking workers held productive talks with the assistance of acting Secretary of Labor Julie Su, aiming to end a strike that has crippled Boeing's U.S. manufacturing operations and is now entering its eighth week. The discussions resumed after workers had previously voted down an improved contract offer last week. On Thursday, Boeing made a new proposal offering a 38% wage increase over four years, which amounts to a 43.65% total wage increase on a compounded basis, including a $12,000 signing bonus upon ratification. The union leadership has endorsed the latest offer, which would bring the average annual machinist pay to $119,309 by the end of the contract. The union is encouraging members to approve the new contract in a vote scheduled for Monday, in hopes of concluding the lengthy labor dispute that has halted most of Boeing's airplane production.