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Boeing employees return to work after accepting 43% pay rise
November 6th 2024
The 33,000 Boeing employees represented by the International Association of Machinists and Aerospace Workers (IAM) have accepted the OEM’s offer of a 43% pay rise over four years plus a US$12,000 ratification bonus. Read More » Production lines at Boeing’s single aisle and twin aisle factories across Seattle are re-opening after a shutdown of more than seven weeks. The yes vote was carried with 59% of members in favour of the package that does not include restoration of a company pension plan. “This agreement represents a new standard in the aerospace industry. It sends a clear statement that aerospace jobs must be middle class careers in which workers can thrive,” IAM international president, Brian Bryant, said. The strike, estimated to have cost Boeing up to US$100 million a day, resulted in the company negotiating a capital raising of up to US$33 billion to shore up its balance sheet. “While the past few months have been difficult for all of us, we are all part of the same team,” Boeing president and CEO, Kelly Ortberg, said. "There is much work ahead to return to the excellence that made Boeing an iconic company."
