Boeing Workers to Vote on New Strike-Ending Contract

Over 30,000 Boeing workers on strike since September are set to vote on a new contract with a proposed 38% pay increase and a substantial signing bonus. The union has endorsed the offer, which also reinstates an annual bonus plan previously removed.

Striking Boeing workers located on the U.S. West Coast will cast their votes on a newly proposed contract on Monday, which features a 38% salary increase over a four-year span plus a larger signing bonus, as announced by their union on Thursday.

This potential agreement comes after more than 30,000 factory employees, responsible for manufacturing the 737 MAX commercial jet and other aircraft, have maintained their protest since September 13. Previously, they turned down two offers from Boeing, including one with a $12,000 ratification bonus and the reinstatement of an annual bonus scheme eliminated from an earlier proposal, as stated by The International Association of Machinists and Aerospace Workers.

The IAM has supported the current offer in advance of the vote. The workers are advocating for a 40% wage raise and the restoration of a defined-benefit pension they lost a decade ago. Last week, approximately 64% of Boeing's West Coast factory workforce rejected a non-endorsed 35% wage increase proposal over four years. Boeing shares saw an increase of 2.5% in after-hours trading after the offer announcement, despite an earlier 3.2% drop on Thursday.

(With inputs from agencies.)