Boeing Raises Its Offer to IAM Union to Resolve Strike
Boeing's New Offer
Boeing is raising its offer to the International Association of Machinists (IAM) union as part of its effort to conclude the strike that has involved 33,000 union members for over 11 days. The updated offer suggests a 30% raise over the contract's four-year term, featuring an immediate 12% raise that aims to address union members' concerns after the previous proposal faced near-unanimous rejection.
Key Offer Highlights
- Signing Bonus: The signing bonus has doubled to $6,000.
- 401(k) Contributions: Boeing will match contributions made by union members.
- Pension Plan: The traditional pension plan lost in past agreements has not been restored.
Significance for U.S. Manufacturing
Even with significant obstacles, including over $33 billion in losses in the last five years, Boeing remains integral to U.S. manufacturing, contributing $79 billion to the economy while supporting 1.6 million jobs across the nation.
Moving Forward
The new offer is contingent on ratification by September 27. This is a developing story, and updates will be provided as new information arises.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.