Boeing's Machinists’ Union Rejects Best and Final Contract Offer During Strike
Boeing's Best and Final Offer Overview
As strike action by Boeing machinists reached its 11th day, the planemaker presented a best and final contract offer to striking workers. This offer included a significant 30% salary increase over the next four years, featuring an immediate 12% raise. Boeing urged the International Association of Machinists and Aerospace Workers (IAM) to reconsider its stance.
Details of the Contract Proposal
- Retirement Plans: Boeing will match 100% of the first 8% in the 401(k)-pension plan.
- Bonuses: Increased ratification bonus to $6,000 and reinstatement of the AMPP bonus.
- Pension Plan: Traditional pension plan, removed years ago, will not be reinstated.
Union's Response and Negotiation Dynamics
Despite Boeing's attempts to finalize the offer by September 27, 2024, the union announced that it would not participate in the voting process. The Union Negotiating Committee criticized Boeing for disrespecting proper communication channels by addressing union members directly.
Current Strike Impact
- 33,000 Boeing machinists are on strike, having initially rejected a 25% pay increase.
- Boeing plans to furlough employees on a rolling basis, impacting managers and executives.
These actions highlight the ongoing tensions between labor relations and corporate strategies.
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.