EconomyLens.com
No Result
View All Result
Thursday, July 3, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Other

Boeing boosts pay offer in effort to end strike

Andrew Murphy by Andrew Murphy
September 23, 2024
in Other
Reading Time: 5 mins read
A A
0
76
SHARES
956
VIEWS
Share on FacebookShare on Twitter

Boeing says that ending a strike involving tens of thousands of Seattle-area workers is a 'top priority'. ©AFP

New York (AFP) – Boeing proposed lifting hourly wages for striking workers by 30 percent on Monday, sweetening its initial offer in an effort to end a 10-day stoppage that shuttered Seattle-area plants. The aviation giant gave workers until Friday at midnight to ratify its “best and final offer.” The union, the International Association of Machinists and Aerospace Workers, said it was reviewing the proposal.

Related

Stocks climb as strong US jobs data soothes growth worries

UK’s Starmer backs finance minister after tears in parliament

Tesla reports lower car sales, extending slump

US-Vietnam trade deal sows new China standoff

Stocks rise, dollar dips ahead of US jobs data

Some 33,000 IAM members from District 751 in the Pacific Northwest region walked off the job on September 13 after overwhelmingly voting down an earlier offer, effectively shutting down assembly plants for the 737 MAX and 777. The 30 percent general wage increase improves on the 25 percent in the earlier offer, which was initially endorsed by IAM leaders before the rank-and-file workforce rejected it decisively. Workers have sought a 40 percent wage increase, citing more than a decade of meager pay boosts that have taxed family budgets in a costly region of the United States during a period of consumer price inflation.

The new proposal also reinstates an annual bonus that had been removed in the earlier version. Line workers had complained that the loss of the bonus meant that the earlier proposal amounted to less than the 25 percent wage hike advertised by the company. The new proposal also doubles a ratification bonus to $6,000 and lifts the company’s contribution to employees’ 401K program. But the amended offer does not reinstate the pension, a demand of some workers.

The two sides undertook two days of mediation last week with assistance from government officials. Boeing CEO Kelly Ortberg said ending the strike was “a top priority.” Boeing said the latest proposal would need to win ratification by 11:59 pm on Friday night, setting a tight timetable for IAM leadership to comment on the proposal and orchestrate a vote.

Surveys of line workers have shown general wages, the reinstatement of the bonus, and the pension as priorities, the IAM has said. Brian Bryant, president of the IAM international union, said the latest offer from Boeing “validates” the decision to strike. “Employees knew Boeing executives could do better, and this shows the workers were right all along,” Bryant said in a statement.

Boeing employee Mike Corsetti said he looked forward to studying the proposal in detail, saying, “it’s closer but I’m not sure it’s good enough.” The amended deal maintains other provisions, such as a pledge to build Boeing’s next new airplane in the Pacific Northwest. The strike has added to Boeing’s woes as it faces heavy scrutiny from regulators due to safety problems. Federal Aviation Administrator Mike Whitaker is scheduled to sit for two congressional hearings this week on the agency’s oversight of Boeing. Shares of Boeing rose two percent.

© 2024 AFP

Tags: Boeinglabor strikeunion
Share30Tweet19Share5Pin7Send
Previous Post

Man Utd stadium regeneration could add £7.3bn to British economy

Next Post

California sues oil giant Exxon over plastic recycling ‘myth’

Andrew Murphy

Andrew Murphy

Related Posts

Other

In US capital, Trump tariffs bite into restaurant profits

July 3, 2025
Other

US stocks back at records as oil prices rally

July 3, 2025
Other

US senator urges bribery probe over Trump-Paramount settlement

July 3, 2025
Other

Trump says Vietnam to face 20% tariff under ‘great’ deal

July 3, 2025
Other

Wall Street shrugs off drop US private sector jobs

July 2, 2025
Other

Stocks stuck as US private sector jobs disappoint, UK’s Reeves future uncertain

July 2, 2025
Next Post

California sues oil giant Exxon over plastic recycling 'myth'

China unveils fresh stimulus to boost ailing economy

Israeli economy struggles under weight of Gaza war

Union says new Boeing pay offer 'missed the mark'

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

72

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

US stocks back at records as oil prices rally

July 3, 2025

UK’s Starmer backs finance minister after tears in parliament

July 3, 2025

Tesla reports lower car sales, extending slump

July 3, 2025

Strike by French air traffic controllers disrupts summer travel

July 3, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.