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Strike-hit Boeing agrees with the union

The crisis-stricken aircraft manufacturer Boeing has reached a preliminary wage agreement with the union, reports the Wall Street Journal (WSJ). The strike affecting 33,000 employees may thus soon be over.

» Updated: 19 October 2024, 17:56

» Published: 19 October 2024

Strike-hit Boeing agrees with the union
Photo: Lindsey Wasson/AP/TT

According to the newspaper, the new agreement implies 35-percent salary increases over the next four years.

The strike, which has led to a halt in large parts of the company's production, has been ongoing since September 13. As recently as last week, the parties announced that the negotiations had broken down since the company management withdrew its latest salary offer and accused the union of being inflexible.

The union made the new offer public on Saturday morning local time and stated that it is good enough to be presented to and considered by the members.

The plan is, according to WSJ, to hold a vote on Wednesday, when at least 50 percent must vote yes for the agreement to be approved.

The background to the strike is demands for compensation for what is considered a decade of small salary increases that have been eroded by inflation.

The strike has hit the aircraft manufacturer hard, which is estimated to lose up to one billion dollars per month. Recently, it was announced that ten percent of the workforce – equivalent to 17,000 employees – will be cut.

TTT
By TTThis article has been altered and translated by Sweden Herald

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