Boeing agrees to build its next all-new jet in Washington as contract deadline nears
The Boeing Co. (NYSE:BA) has agreed to build its next all-new commercial airplane program in Washington in a major victory for its machinists union as the two parties close in on a new labor contract.
The proposed deal includes a record 25% wage increase for employees over the life of the contract, as well as a $3,000 bonus if it receives approval before the current deal expires at the end of Sept. 12. The jet maker also agreed to boost employee retirement, health care and parental leave benefits, add a new “floating holiday” and pare back mandatory overtime requirements.
The contract will need to be ratified by a vote by the members of the International Association of Machinists and Aerospace Workers 751, which represents 33,000 Boeing employees, roughly half of the company’s Washington workforce. The vote is scheduled for Thursday.
“Just as important, this contract deepens our commitment to the Pacific Northwest. Boeing’s roots are here in Washington,” Boeing Commercial Airplanes President and CEO Stephanie Pope said in a statement to employees. “It is where generations of workers have built incredible airplanes that connect the world.”
https://www.bizjournals.com/seattle/news/2024/09/09/boeing-reaches-deal-terms-with-machinists.html