Boeing machinists hold contract vote that could end their 7-week strike from

Boeing Machinists to Vote on Contract, Ending 7-Week Strike

Key Points

* Boeing machinists will vote on a proposed contract that could end their seven-week strike. * The strike has grounded dozens of Boeing 737 MAX jets and cost the company billions of dollars. * The proposed contract includes a 16% pay increase over three years, as well as increased healthcare and retirement benefits. * The outcome of the vote is uncertain, but a majority of the union's members must approve the contract for it to take effect.

Background on the Strike

The strike began on October 6, 2022, after months of negotiations between Boeing and the International Association of Machinists and Aerospace Workers (IAM). The union represents 14,000 machinists who work at Boeing's factories in Washington state. The main issue in the dispute was wages, with the union seeking a 16% pay increase over three years. Boeing had offered a 14% pay increase, as well as increased healthcare and retirement benefits.

Impact of the Strike

The strike has had a significant impact on Boeing's operations. The company has been forced to ground dozens of Boeing 737 MAX jets, which are its best-selling aircraft. Boeing has also lost billions of dollars in revenue due to the strike. The strike has also taken a toll on the IAM members, who have been losing wages and benefits. However, the union has been adamant that it will not accept a contract that does not meet its members' demands.

Proposed Contract

The proposed contract that the IAM members will vote on includes a 16% pay increase over three years, as well as increased healthcare and retirement benefits. The contract would also create a new overtime pay policy that would be more favorable to the union members. The outcome of the vote is uncertain, but a majority of the union's members must approve the contract for it to take effect. If the contract is approved, the strike will end and the machinists will return to work. However, if the contract is rejected, the strike will continue and Boeing will continue to lose money.