Striking Boeing workers have accepted the new pay deal that will give them a 38% increase in pay over the next 4 years.
In September , around 33,000 workers stopped working at factories in Washington. Workers rejected a contract that would have raised wages by 25% in four years.
In the original proposal, the company committed to building its next commercial aircraft in the Seattle region. The International Association of Machinists and Aerospace Workers, or IAM, was looking for assurances about pension plans and work conditions.
The workers refused a second offer on 24 October, which would have given them a 35% increase in pay over the same period.
The union has announced that they will be able return to work on Wednesday, 6 November. IAM reported 59% of striking workers voted for the new deal. It includes a $12,000 one-time bonus and changes to retirement plans.
After reporting $4 billion in losses for the three-month period ending September 30, the company announced recently that it would reduce a tenth its global workforce. Boeing’s 777X jet launch will be delayed to 2026 and the production of 767 freight planes will cease in 2027.
Kelly Ortberg, the chief executive of Boeing, said: “While we all have had a difficult time in the last few months, we are part of the same group.” Boeing must return to its former excellence.
The timing was also crucial, as the US elections are due to be held today. Julie Su, the US labor secretary, flew to Seattle last month to assist with negotiations.
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