Boeing Raises Wage Offer to 30% in 'Best and Final' Bid to End Strike in Second Week

Sep 23, 2024, 06:18 PM

Boeing has significantly increased its contract offer to the International Association of Machinists (IAM) in an effort to end a strike that has halted most of its aircraft production. The new proposal, described as the company's 'best and final' offer, includes a 30% general wage increase over four years, up from the previously offered 25%. Additionally, Boeing has doubled the ratification bonus to $6,000 and plans to enhance its 401(k) match program to 100% of the first 8% of pay, while continuing an automatic 4% company contribution. The strike, which has been ongoing for 11 days and is now in its second week, affects about 33,000 workers at Boeing's main Seattle manufacturing hub. Boeing also plans to restore its employee bonus program.