It is time “to lock in these gains and confidently declare victory,” the Boeing machinist union told its striking members after Boeing’s latest contract offer. The deal on the table includes 38% pay raises over four years, just shy of the 40% union members demanded and much higher than the 25% the company started negotiations at.
Boeing’s latest offer also quadruples the original ratification bonus to $12,000 and comes with a strong 401(k) company match. District 751 members of the International Association of Machinists and Aerospace Workers will vote on the contract Monday, Nov. 4.
Thirty-three thousand machinists have been on strike for seven weeks, fighting for better pay and retirement benefits. The strike is costing Boeing $1 billion for every month they’re off the job, which is just the tip of the iceberg when it comes to Boeing’s financial troubles.
