Boeing Workers Set to Vote on Improved Contract Amid Ongoing Strike

Boeing workers will vote on a new contract offering a 38% pay rise over four years and a larger signing bonus, supported by their union. This comes during a critical financial period for Boeing amid an ongoing strike. Approval would significantly benefit Boeing's new CEO and its suppliers.

Striking Boeing workers are scheduled to vote on Monday on an enhanced contract proposal, which includes a 38% pay increase over four years and a substantial signing bonus. This offer has received backing from their union, which asserted that all possible concessions have been negotiated from Boeing.

The latest proposal was delivered at a pivotal time for Boeing, which recently disclosed plans to raise $24.3 billion to stabilize its financial health as the ongoing strike by over 33,000 workers continues to affect its finances. Union discussions occurred this week, facilitated by Acting U.S. Secretary of Labor Julie Su.

Acceptance of the deal would be beneficial for newly appointed Boeing CEO Kelly Ortberg, who is focused on overseeing a cultural shift within the company following a high-profile safety incident earlier in the year. The strike has significantly disrupted Boeing's production capabilities, impacting its most popular aircraft models.

(With inputs from agencies.)