Boeing and the roughly 33,000 machinists who went on strike last month have reached a tentative agreement, the union announced Saturday.
The International Association of Machinists (IAM) said: “We are finalizing the strike settlement agreement and expect to close it soon, along with additional contract details to provide a clear understanding of the proposal. I will make an announcement.'' said in the post on social platform X.
Latest suggestion The agreement from Boeing includes a 35% pay increase over four years and reinstates an incentive pay plan with a guaranteed minimum annual payment of 4%. The union representing about 600,000 active and retired machinists announced a vote next week on the latest contract negotiations.
The agreement also increases company contributions to workers' 401(k) plans, but does not return them to their original pension plans from 10 years ago, CNN reported. reported.
“The fact that the company has submitted an improvement proposal is a testament to the determination and dedication of the striking frontline workers and the strong support they have received from so many,” IAM said in a press release. Ta.
The union added that workers “will ultimately decide whether this concrete proposal is sufficient.”
“Like many workers in the United States, Boeing IAM members have made tremendous sacrifices for their employers, with executives staying home and workers reporting to factories during the pandemic. The same goes for times,” they wrote. “These workers should be recognized for all their sacrifices.”
Boeing implemented cost-cutting measures shortly after the strike began on September 13, including hiring freezes, furloughs, pay cuts for executives and suspension of payments to a number of lobbying firms in Washington.
The aircraft manufacturer submitted what it called a “final” proposal to the IAM late last month.
IAM also thanked Labor Secretary Julie Su for her role in the negotiations in an online post.
“With the assistance of Acting U.S. Secretary of Labor Julie Su, we have received a negotiated proposal and resolution to halt the strike that deserves to be presented to union members and worthy of consideration. ,” the union wrote.
When asked for comment, Boeing said, “We look forward to our employees voting on the negotiated proposal.”
The strike is the latest issue for the company, which received national attention earlier this year for perceived safety deficiencies. The Federal Aviation Administration announced Friday that it would begin a review of the airline's protocols.
