Boeing CEO Kelly Ortberg moved to Seattle while the company’s 33,000 workers picketed. (Credit: Derrick Louie with Clarity Northwest Photography & Laura Halliday with Realogics Sotheby’s International Realty and KCPQ)
Boeing is offering a new financial package to its striking workers to end the ongoing strike.
Both Boeing and its union announced the tentative agreement on Saturday. Striking machinists will vote on the deal on Wednesday.
The International Association of Machinists and Aerospace Workers Local 751 told Reuters the new package includes a 35% pay increase over four years, a new incentive plan and a $7,000 ratification bonus.
The corporation also offers employees a 12% 401(k) contribution, plus a one-time contribution of $5,000 to the worker’s retirement account.
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A Boeing 737 Max. (Geoffroy Van Der Hasselt/AFP via Getty Images / Getty Images)
The strike, which has been going on for five weeks, primarily involves Boeing workers on the West Coast. About 33,000 machinists have refused to work on the 737 MAX and 767 and 777 wide-body planes since September 13.
Boeing said it “looks forward to our employees voting on the negotiated proposal,” but striking workers have rejected Boeing’s offers in the past, even those supported by union officials.
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Workers picket outside a Boeing Co facility. during a strike in Everett, Washington, September 16. (M. Scott Brauer/Bloomberg via Getty Images / Getty Images)
About 95% of workers on the West Coast rejected Boeing’s contract offer of a 25% pay increase over four years in September, shortly before the strike began. The previous offer also included a $3,000 signing bonus.
| Heart | Security | Final | Change | Change % |
|---|---|---|---|---|
| B.A | BOEING CO. | 155.00 | -0.31 |
-0.20% |
The union said the new deal was helped along by the help of Acting U.S. Secretary of Labor Julie Su, and told striking workers the deal was “worth your consideration.”
Boeing’s corporate world headquarters in Chicago. (Scott Olson/Getty Images/Getty Images)
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FOX Business reached out to Boeing for comment.
Reuters contributed to this report.
