Boeing workers vote on a new wage deal offering a 35% raise, $7,000 bonus.

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Boeing factory workers on the U.S. West Coast are voting on a new wage deal that could conclude a 5-week strike affecting 30,000 machinists. Here are the key details regarding the proposal:

  • Strike Duration: The strike, initiated on September 13, 2024, has resulted in halted production of Boeing’s best-selling 737 MAX and 767 and 777 wide-body programs.
  • Wage Increase: The new proposal includes a 35% wage increase over four years, surpassing the previous offer of 30%.
  • Signing Bonus: Workers would receive a $7,000 signing bonus as part of the deal.
  • 401(k) Contributions: The proposal also enhances contributions to workers’ 401(k) retirement plans, which includes a one-time $5,000 contribution and up to 12% in employer contributions.
  • Financial Impact: The strike is costing Boeing approximately $100 million in daily revenue, and analysts warn that extended strikes could lead to a downgrade of Boeing’s debt rating.
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The vote, which closes at 5 p.m. PDT, coincides with Boeing’s third-quarter financial results, expected to show significant losses due to the production halt.

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