The lengthy strike at Boeing has officially come to an end as workers voted in favor of a new pay deal granting them a hefty 38% wage increase over the next four years. This decision marks a significant turnaround from the 40% raise initially sought by the International Association of Machinists and Aerospace Workers (IAM), which represents about 30,000 workers at the aviation giant.
In addition to the pay raise, employees will also receive a one-time bonus of $12,000, and there will be adjustments to their retirement plans. The vote came after two previous contract offers were rejected, with 59% of the striking workers supporting the latest agreement.
Union leader Jon Holden celebrated the decision, stating this outcome reflects the commitment to fair treatment and wages. Boeing's CEO Kelly Ortberg acknowledged the challenges ahead—highlighting the urgent need for the company to regain its status as a leading manufacturer in the industry.
The strike, which began on September 13, severely impacted Boeing’s production, leading to financial losses estimated at nearly $10 billion. The prolonged work stoppage caused Boeing to initiate a share sale to recover financially, while also announcing layoffs of about 17,000 employees.
The strike highlighted critical issues within the company, including earlier incidents that affected its reputation in both commercial and space aviation. With workers set to return by mid-November, Boeing aims to navigate through this challenging phase and restore its excellence in global aerospace.
In addition to the pay raise, employees will also receive a one-time bonus of $12,000, and there will be adjustments to their retirement plans. The vote came after two previous contract offers were rejected, with 59% of the striking workers supporting the latest agreement.
Union leader Jon Holden celebrated the decision, stating this outcome reflects the commitment to fair treatment and wages. Boeing's CEO Kelly Ortberg acknowledged the challenges ahead—highlighting the urgent need for the company to regain its status as a leading manufacturer in the industry.
The strike, which began on September 13, severely impacted Boeing’s production, leading to financial losses estimated at nearly $10 billion. The prolonged work stoppage caused Boeing to initiate a share sale to recover financially, while also announcing layoffs of about 17,000 employees.
The strike highlighted critical issues within the company, including earlier incidents that affected its reputation in both commercial and space aviation. With workers set to return by mid-November, Boeing aims to navigate through this challenging phase and restore its excellence in global aerospace.
