SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

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

More news

Biden and Xi meet in Peru
1 MIN READ

Biden and Xi meet in Peru

Shareholders' Meeting at Northvolt
1 MIN READ

Shareholders' Meeting at Northvolt

American Airline on the Verge of Bankruptcy
1 MIN READ

American Airline on the Verge of Bankruptcy

Bitcoin reaches new record level – over 1 million kronor
1 MIN READ

Bitcoin reaches new record level – over 1 million kronor

American inflation rises
2 MIN READ

American inflation rises

Saab: Our sensors can handle offshore wind power
1 MIN READ

Saab: Our sensors can handle offshore wind power

Volvo Cars closes car-sharing service
1 MIN READ

Volvo Cars closes car-sharing service

Northvolt sells factory in California
2 MIN READ

Northvolt sells factory in California

Central Bank Chief Warns of Rising Food Prices
2 MIN READ

Central Bank Chief Warns of Rising Food Prices

Hawala Association Can Be Exploited for Terrorism
1 MIN READ

Hawala Association Can Be Exploited for Terrorism

Swedish success story defies turbulent world
3 MIN READ

Swedish success story defies turbulent world

Klarna sets its sights on Wall Street
3 MIN READ

Klarna sets its sights on Wall Street

The Boat Manufacturer Nimbus Asks Owners for More Money
1 MIN READ

The Boat Manufacturer Nimbus Asks Owners for More Money

The stock market continued to fall – Saab turned downward
1 MIN READ

The stock market continued to fall – Saab turned downward

Mild weather slows down clothing sales
1 MIN READ

Mild weather slows down clothing sales

The Big Bank: Housing Prices Will Rise This Much
2 MIN READ

The Big Bank: Housing Prices Will Rise This Much

Still Unrest on Asian Stock Exchanges
1 MIN READ

Still Unrest on Asian Stock Exchanges

Meta meets the EU halfway
1 MIN READ

Meta meets the EU halfway

Increased profit and revenue for Spotify
1 MIN READ

Increased profit and revenue for Spotify

The US Stock Market Fell
1 MIN READ

The US Stock Market Fell