Boeing has proposed a new financial package aimed at resolving the ongoing strike involving its workers. The company and the workers’ union, the International Association of Machinists and Aerospace Workers Local 751, announced a tentative agreement, with a vote scheduled for Wednesday. The proposed package includes a 35% salary increase over four years, a new incentive plan, and a $7,000 ratification bonus. Additionally, Boeing is offering employees a 12% contribution to their 401(k) plans and a one-time $5,000 contribution to retirement accounts.
The strike, which has affected Boeing’s operations on the West Coast, involves approximately 33,000 employees who have ceased work on the 737 MAX and the 767 and 777 widebody aircraft since September 13. Boeing has expressed its anticipation for employees to vote on the proposed deal, though previous offers, including those endorsed by union leaders, have been rejected.
In September, around 95% of West Coast workers turned down an offer that included a 25% pay increase over four years and a $3,000 signing bonus. The latest negotiation effort was supported by Acting U.S. Secretary of Labor Julie Su, and the union has encouraged workers to consider the new proposal. FOX Business has contacted Boeing for a comment on the ongoing situation.
