Boeing CEO Kelly Ortberg relocated to Seattle, where 33,000 Boeing employees took to the picket line. (Credit: Derrick Louie, Clarity Northwest Photography, Laura Halliday, Realogics Sotheby’s International Realty, KCPQ)
The International Machinists and Aerospace Workers Local 751, which represents 33,000 members in Seattle, announced it has accepted a new contract with Boeing, ending the union’s strike after nearly two months. .
According to Reuters, the union said 59% of the machinists voted in favor of accepting the company’s proposal. The proposal includes a 38% pay increase over four years, which would ultimately increase his salary from $75,608 to $119,309. The proposal also included ratification and productivity bonuses.
Boeing did not agree to reinstate the company’s pension plan, which was highly requested by union members, but did provide companies with matching contributions to workers’ 401(k) plans, Reuters reported.
IAM 751 posted on X on Monday night that workers can return to work starting Wednesday and must return by the start of work on November 12th.
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The Seattle-based Boeing Machinists Union approved the new contract offer with a 59 percent vote after a nearly two-month strike. The offer includes 38% raises and bonuses over four years. (Jason Redmond/AFP via Getty Images/Getty Images)
Boeing CEO Kelly Ortberg, who joined Boeing in August, said in a statement that he was “pleased to be able to reach an approved agreement” with the mechanics.
“The past few months have been difficult for all of us, but we are all part of the same team. We will only move forward by listening and working together. There is a lot of work ahead to restore it to its former excellence,” Ortberg said. “This is a critical time in our history, and like generations before us, we will rise to this moment together and emerge stronger as one team.”
Boeing machinists Monday night accepted the company’s contract, which includes 38% raises over four years and ratification and productivity bonuses. (Jason Redmond/AFP via Getty Images/Getty Images)
Boeing cuts 10% of its workforce, halts most 767 production during union strike
President Biden also issued a statement congratulating the union and Boeing for “reaching an agreement that reflects the hard work and sacrifice of 33,000 machinists.”
“This contract delivers 38% wage increases over four years, improves workers’ ability to retire with dignity, and supports workplace equity. “It’s an important part of Boeing’s future.”
Boeing lost more than $1 billion a month in revenue due to the strike, according to estimates released before the layoffs were announced. (Justin Tallis/AFP via Getty Images/Getty Images)
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The strike, which began on September 13, severely affected the company’s production as Boeing West Coast employees refused to work on its 737 MAX, 767 and 777 widebody jets.
Boeing was losing more than $1 billion in monthly revenue as a result of the strike, according to estimates released before Ortberg announced the company would cut 17,000 jobs, or 10% of its global workforce.
