Boeing factory workers go on strike after rejecting contract offer

[Stevicus]

Boeing factory workers go on strike after rejecting contract offer

Aircraft assembly workers have walked off the job at Boeing factories near Seattle and elsewhere after union members voted overwhelmingly to reject a tentative contract that would have increased wages by 25% over four years

abcnews.go.com

The machinists make $75,608 per year on average, not counting overtime, and that would rise to $106,350 at the end of the four-year contract, according to Boeing.

However, the deal fell short of the union’s initial demand for pay raises of 40% over three years. The union also wanted to restore traditional pensions that were axed a decade ago but settled for an increase in new Boeing contributions of up to $4,160 per worker to employee 401(k) retirement accounts.

The company was offering a 25% raise, but the employees wanted 40%.

 

[crossfire]

Boeing factory workers go on strike after rejecting contract offer

Aircraft assembly workers have walked off the job at Boeing factories near Seattle and elsewhere after union members voted overwhelmingly to reject a tentative contract that would have increased wages by 25% over four years

abcnews.go.com

The company was offering a 25% raise, but the employees wanted 40%.

It looks like they haven't got much of any pay raise over the past 40 years. I remember when working for Boeing was a much-coveted job, with good pay, good benefits, and even a pension plan. Not anymore.

 

[Jayhawker Soule]

The company was offering a 25% raise, but the employees wanted 40%.

@crossfire makes two important points touched on in the news article ...

• “The last contract we negotiated was 16 years ago and the company is basing the wage increases off of wages from 16 years ago," Olson said. "They don’t even keep up with the cost of inflation that is currently happening right now.”
• The head of the union local, IAM District 751 President Jon Holden, said Ortberg faced a difficult position because machinists were bitter about stagnant wages and concessions they have made since 2008 on pensions and health care to prevent the company from moving jobs elsewhere.

And Forbes adds:

• Districts 751 and W24 of the International Association of Machinists and Aerospace Workers union (IAM), representing around 33,000 Boeing factory workers, announced its members voted 94.6% to reject the company’s contract offer and 96% for a strike. [source]

That's a pretty substantial majority.

(It will be interesting to see what the government will do on the cusp of an election.)

 

[Revoltingest]

Given Boeing's many major woes, they just
might find a 100% cut in pay. Glad I don't
own any of their stock.

 

[Stevicus]

Given Boeing's many major woes, they just
might find a 100% cut in pay. Glad I don't
own any of their stock.

Unless they're one of those companies which are too big to fail.

 

[Twilight Hue]

Given Boeing's many major woes, they just
might find a 100% cut in pay. Glad I don't
own any of their stock.

Better than getting wacked.

 

[Revoltingest]

Unless they're one of those companies which are too big to fail.

Or too integrated into critical defense systems.

 

[Stevicus]

Boeing, Union Reach Wage Deal to End Strike

So, the workers will vote on it on Wednesday. They may still vote against it.

The strike, which began on Sept. 13, has halted production of most of the company’s airplanes and triggered a large round of layoffs.

The union announced the deal Saturday morning, saying, “it warrants presenting to the members and is worthy of your consideration.”

The union plans to vote on the deal on Wednesday. Nearly 95% of workers voted to reject the last tentative deal, which the union’s leaders recommended.

Meanwhile, Boeing is losing money.

Boeing’s business has been hobbled by the strike, with the company losing an estimated $1 billion a month. CEO Kelly Ortberg announced plans to cut 17,000 jobs and sell up to $25 billion in stock or debt to plug a cash drain. The company has warned of a $6 billion quarterly loss.

 

[Estro Felino]

I am with workers. Always. No matter the demands.

 

[Stevicus]

The workers rejected the proposal, so it looks like the strike will go on.

https://www.npr.org/2024/10/23/g-s1-29638/boeing-machinists-reject-contract-strike

Boeing strike to continue after workers reject new contract

According to the International Association of Machinists and Aerospace Workers (IAM), 64% of workers voted to reject the new contract.

abcnews.go.com