repubblica.it
Boeing Strike Ends with Contract Approval
Boeing workers end their seven-week strike after approving a new contract that includes significant pay raises but no pension restoration. The deal allows Boeing to resume production and alleviate financial pressures.
Italian
Italy
Labour MarketMilitary TechnologyLabor DisputeIndustrial ActionContract NegotiationCorporate FinanceWorkforce Reduction
BoeingInternational Association Of Machinists And Aerospace Workers
Kelly Ortberg
- What are the key terms of the new contract?
- The agreement allows Boeing to resume production of its best-selling aircraft, generating much-needed revenue. The 33,000 represented workers could return to work as early as Wednesday or by November 12th, though Boeing's CEO stated that it might take a couple of weeks to fully restart production.
- What was the outcome of the Boeing workers' strike vote?
- Boeing workers have voted to accept a new contract, ending a seven-week strike. The deal includes a 38% pay raise over four years, ratification bonuses, and productivity bonuses. However, Boeing refused to reinstate the company pension plan.
- What was the union's rationale for endorsing the contract?
- The union leadership endorsed the contract, believing they had achieved the best possible outcome through negotiations and the strike. A majority of union members (59%) voted in favor of the deal.
- What is the significance of the contract's ratification for Boeing?
- The strike's end is significant for Boeing, a major US manufacturer and government contractor, as it allows the company to resume production lines after a 53-day shutdown. The prolonged strike had intensified the company's financial difficulties and uncertainty.
- What are the future implications for Boeing's workforce and finances?
- Boeing CEO Kelly Ortberg announced plans to reduce the workforce by about 10%, or 17,000 employees, due to the strike and other factors impacting the company's reputation and finances. The average annual pay for Boeing workers will rise to $119,309 from $75,608 under the new contract.