Boeing workers on the West Coast have been on strike since last month after rejecting a deal that would have given them a 25% pay rise over four years — a subsequent proposal which offered a 30% pay rise was also rejected.
The strike has significantly affected Boeing’s operations, putting a complete stop to the production of the company’s 737 MAX, 767, and 777 planes. Since the stoppage the company has sought $35 billion in new funding (from investors and banks) to improve “access to liquidity“.
A new proposal by Boeing.
According to the International Association of Machinists and Aerospace Workers (IAM), after lengthy negotiations, which included Acting US Labor Secretary Julie Su, Boeing has offered its workers a fresh new proposal, which includes:
- a 35% pay rise over four years,
- improved contributions to workers’ 401(k) retirement plans,
- a performance bonus plan, and
- a $7,000 ratification bonus.
On Wednesday, Boeing’s 33,000 unionized West Coast workers will vote on whether they accept or decline the offer.
IAM District 751 President Jon Holden and IAM District W24 President Brandon Bryant said in a joint statement:
“The fact the company has put forward an improved proposal is a testament to the resolve and dedication of the frontline workers who’ve been on strike – and to the strong support they have received from so many. This proposal will be carefully reviewed and voted upon by the frontline workers of Boeing whose dedication to their communities and families have made this company successful in the past. The workers will ultimately decide if this specific proposal is sufficient in meeting their very legitimate needs and goal of achieving respect and fairness at Boeing. Like many workers in America, IAM members at Boeing have sacrificed greatly for their employer, including during the pandemic when these workers were reporting to the factory as executives stayed at home. These workers deserve to have all of those sacrifices recognized.”
The sooner this issue is resolved, the sooner Boeing will be able to deliver all of its planes. According to Reuters, Boeing said that it looks “forward to our employees voting on the negotiated proposal.”