Union urges Boeing strikers to vote in favor of new 38% pay rise offer
After weeks of strikes, the International Association of Machinists and Aerospace Workers (IAM) has urged Boeing workers to accept a new contract proposal.
The IAM Union District 751, which represents 33,000 Boeing staff members in the Seattle area, said on October 31, 2024, that negotiators had “extracted everything” that they can during “bargaining”.
In a statement, IAM 751 appealed to members and said: “We believe asking members to stay on strike longer wouldn’t be right as we have achieved so much success. In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor. We are at that point now and risk a regressive or lesser offer in the future.”
The new proposal includes a 38% pay rise over four years, a ratification bonus worth $12,000 and an additional $5,000 payment.
Pay will increase 13% in the first year followed by 9% (Year Two), 9% (Year Three) and 7% (Year Four).
Members can choose whether the $5,000 payment is part of a paycheck, paid to their 401K retirement fund, or a combination of both.
A previous proposal offering a 35% pay rise over four years, a $7,000 ratification bonus and better retirement contributions was rejected by workers in October 2024.
Commenting on the new proposal IAM 751 said: “Your Union is endorsing and recommending the latest IAM/Boeing Contract Proposal. It is time for our members to lock in these gains and confidently declare victory.”
Boeing CEO Kelly Ortberg will be hoping that the latest contract offer will result in workers returning to the assembly lines after seven weeks of crippling strikes.
Boeing’s aircraft production has been severely damaged by the industrial action and resulted in further delivery delays of 737s, 787s and 777s
On October 28, 2024, Boeing raised $21 billion in a new public stock offering to shore up the company’s finances.
A vote on the new Boeing contact proposal will be held on November 4, 2024.
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The post Union urges Boeing strikers to vote in favor of new 38% pay rise offer appeared first on AeroTime.
After weeks of strikes, the International Association of Machinists and Aerospace Workers (IAM) has urged Boeing workers to…
The post Union urges Boeing strikers to vote in favor of new 38% pay rise offer appeared first on AeroTime.
