Boeing, Striking Union Members Reach Tentative Contract Agreement After Nearly 6 Weeks

Key Points:

Striking Boeing union members reach tentative contract agreement after demanding better wages and benefits for almost 6 weeks.

The deal includes a 35% wage increase over four years, a $7,000 signing bonus, and increased contributions to worker 401(k) plans.

Ratification vote expected soon, with a 50%+1 majority needed for approval.

Union Reaches Breakthrough:

Striking union members at Boeing have reached a tentative contract agreement after nearly six weeks on the picket line. The International Association of Machinists and Aerospace Workers District 751 announced the breakthrough, which includes significant improvements in wages and benefits. Boeing confirmed the deal.

Details of the Agreement:

The tentative agreement offers a 35% wage increase over four years, a larger signing bonus of $7,000, guaranteed minimum payouts in a new annual bonus program, and increased contributions to worker 401(k) retirement plans. The deal will need approval from a majority of union members before being finalized.

Union Plans Ratification Vote:

The union plans to hold a ratification vote as early as Wednesday, with a 50%+1 majority needed for the deal to be approved. The union expressed gratitude for the support received during the strike and emphasized the sacrifices made by workers.

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By: Jon Queally
Title: Boeing, Striking Union Members Reach Tentative Contract Agreement After Nearly 6 Weeks
Sourced From: therealnews.com/strikes-work-boeing-union-workers-win-tentative-contract-with-35-wage-increase
Published Date: Mon, 21 Oct 2024 15:08:03 +0000