Striking Boeing workers held a rally at the Boeing Portland Plant in Portland, Oregon on September 19, 2024.
Jordan Gayle | AFP | Getty Images
Boeing The aerospace giant tightened contracts on Monday, announcing what it called a “best and final” offer for more than 30,000 machinists as a strike that has halted much of the company’s aircraft production enters its second week.
Boeing said on its website that the new proposal includes a number of changes, including pay increases, reinstating annual bonuses and an increased contract ratification bonus.
Boeing’s new proposal would raise prevailing wages by 30 percent over four years, up from the 25 percent previously proposed, and would also double recognition bonuses to $6,000 and reinstate annual bonuses.
The labor union, the International Union of Machinists and Aerospace Workers, had no immediate comment on the proposal. Boeing said the proposal was contingent on approval by 11:59 p.m. PST on Friday.
The new proposal is Boeing’s latest attempt to reach a deal with machinists to end their first costly strike since 2008. Machinists on a picket line in Renton, Washington, told CNBC last week that they rejected the first contract that offered higher wages because they wanted wages that were in line with the soaring cost of living in the Seattle area.
This is breaking news, please refresh to see the latest.