Financial reports from Boeing or analysis from financial news outlets

33,000 Boeing Machinists Vote on Third Contract Offer to End 7-Week Strike

Nov 4, 2024, 01:15 PM

Boeing machinists are voting today on a new contract offer that could end a seven-week strike involving 33,000 workers. The strike has significantly impacted Boeing's operations, halting the production of most passenger planes and intensifying the company's financial struggles. The proposed contract, which is the third offer, includes a 38% wage increase over four years, a $12,000 signing bonus, and a 100% 401k match of the first 8%. The International Association of Machinists and Aerospace Workers has backed the proposal, and there is a two-thirds chance it will pass, according to BofA's Ron Epstein. If approved, the contract would allow Boeing to resume airplane production and stabilize its financial situation in North Carolina.