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Boeing Strike Ends

Boeing workers end a costly seven-week strike after narrowly approving a new contract with improved wages and benefits, averting further financial losses for the company.

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French

France

Labour MarketFranceStrikeLaborIndustryNegotiationAgreement

BoeingIam-District 751International Association Of Machinists And Aerospace Workers (Iam)RyanairAnderson Economic Group

Jon HoldenKelly OrtbergMike CorsettiJoe BidenMichael O'leary

What was the outcome of the Boeing workers' strike?: Boeing workers in Seattle ended a seven-week strike after accepting a new contract that includes a 38% wage increase over four years. The agreement, narrowly approved by 59% of union members, avoids a costly prolonged disruption to Boeing's operations.
How did US President Joe Biden react to the agreement?: US President Joe Biden applauded the agreement between Boeing and its union workers, highlighting the importance of collective bargaining. He stated that this agreement benefits workers, companies, and consumers.
What was the estimated financial impact of the strike?: The strike cost Boeing and its suppliers over \$11.56 billion, making it the costliest strike of the century in the US. The deal was reached after Boeing offered a fourth contract, including improved wages, bonuses, and retirement contributions.
What is the significance of the strike's resolution for Boeing?: The strike's resolution is critical for Boeing, which faces significant financial difficulties. The stoppage paralyzed production of key aircraft models, causing major delays and impacting Boeing's clients, including airlines like Ryanair.
What were the key terms of the agreement reached between Boeing and its union workers?: The union had initially rejected three prior contract offers. The final agreement fell short of fully restoring a previous defined-benefit pension plan, a key union demand. Union members, however, ultimately voted to approve the final offer.

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