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Will Boeing's stock price increase by 5% or more by November 15, 2024, after contract ratification?
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Story
Boeing Offers 38% Wage Hike; Union Leaders Endorse Deal to End Strike
Nov 1, 2024, 01:57 AM
Boeing and the union representing 33,000 striking workers have reached a tentative agreement in an effort to end a seven-week strike that has halted most of Boeing's airplane production since September 13. The new contract proposal includes a 38% wage increase over four years—a compounded increase of about 43.65%—and a $12,000 signing bonus upon ratification. This would bring the average annual machinist pay at the end of the contract to $119,309. The union had originally demanded 40% raises over three years and the restoration of traditional pensions. The offer has been endorsed by the International Association of Machinists and Aerospace Workers union leadership, who have encouraged members to approve the deal. Union members are set to vote on the new offer on Monday, November 4.
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