Boeing says it has a deal to avoid a strike by more than 30,000 machinists
Boeing has a tentative agreement with its largest union on a new contract for factory workers that could avoid a threatened strike
Boeing and its largest union said Sunday they reached agreement on a new contract that, if ratified, will avoid a strike that threatened to shut down aircraft production by the end of the coming week.
Boeing said 33,000 workers represented by the International Association of Machinists and Aerospace Workers would get pay raises of 25% over the four-year contract, with average wages rising 33% due to seniority step increases. That is less than the 40% the union had demanded during negotiations.
But the company agreed with a key union demand to build its next plane in Washington state, presumably by union members.
Workers also would get $3,000 lump sum payments and a lower share of health care costs, Boeing said. The company would make new 401(k) contributions of up to $4,160 per employee, but the union would not achieve its demand to restore a defined-benefit pension plan that was eliminated in 2014.
