WA Boeing machinists union endorses latest contract offer, vote scheduled
SEATTLE - Striking Boeing machinists are set to vote on a new contract offer on Monday, Nov. 4, after the union endorsed the company's latest proposal.
IAM 751 released a statement on Oct. 31 stating that the union endorses and recommends the latest offer, which includes a 38% wage increase over four years. The increase is just shy of the 40% the union had been pushing for.
The statement read:
"Your Union is endorsing and recommending the latest IAM/Boeing Contract Proposal. It is time for our Members to lock in these gains and confidently declare victory. We believe asking members to stay on strike longer wouldn't be right as we have achieved so much success.
In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor. We are at that point now and risk a regressive or lesser offer in the future.
This contract builds on everything achieved in the September 12, 2024, agreement, with the additional gains you achieved by going on strike."
About 33,000 machinists have been on strike for nearly 50 days. Contract offers have been rejected twice before by union members with 64% voting no just last week.
Workers picket outside a Boeing Co. facility during a strike in Everett, Washington, US, on Monday, Sept. 16, 2024. Boeing Co. factory workers walked off the job for the first time in 16 years, halting manufacturing across the planemaker's Seattle hu (M. Scott Brauer/Bloomberg via Getty Images)
A major sticking point has been the union's push to restore a worker pension plan which is absent in the new offer as well.
The offer also includes a $12,000 ratification bonus which combines ther previous $7,000 ratification bonus and the $5,000 lump sum into the 401k. Members can choose to get the total amount in their paycheck, 401k contribution or a combination of both.
The average annual machinist pay at the end of this 4-year contract would be $119,309 if the offer is accepted. This is an increase of about $43,700 from the previous contract’s $75,608 average.
Boeing stock rose almost immediately after the union's endorsement of the offer.
This is a developing story. Check back for updates.
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