Beleaguered Boeing has conceded a 25% pay raise and many other concessions in an agreement union leaders say is "the best contract we've negotiated in our history."
After successfully landing its uncrewed due to safety issues, Starliner, Boeing has also managed to keep its union workers at their jobs. How long Boeing will continue to exist as a going concern remains unclear. Having lost tens of billions of dollars in the last five years, mounting debt, and increasing supply chain problems, at least Boeing won't have a strike to deal with. Boeing says they'll be around for generations, so there is that.
Boeing has reached a tentative deal with workers to avoid a major strike, the aircraft maker said late on Sunday. The company conceded a 25% wage increase and a promise to build its next commercial airplane at its Seattle area plants.
The deal with International Association of Machinists and Aerospace Workers (IAM), which represents some 32,000 Boeing employees, is the first of its kind in 16 years. It also includes a provision for improving retirement benefits and gives the union more power in reviewing safety and quality procedures.
"Although there was no way to achieve success on every single item, we can honestly say that this proposal is the best contract we've negotiated in our history," the local IAM branch said. They had initially been seeking a 40% wage increase.
Stephanie Pope, the CEO of Boeing's commercial aircraft branch, said the deal promised "job security for generations to come."
DW.com
