After a seven-week strike, 33,000 of Boeing’s U.S. West Coast union factory machinists have accepted a new contract. Union members will return to work as soon as Wednesday after 59% voted in favor to accept the deal.
The strike, which began on September 13, put a halt to the production of Boeing’s jets and cost the company roughly $100 million a day in lost revenue.
The new contract includes a 38% raise over the next 4 years of the contract, includes a $12,000 cash bonus for hourly employees, and Boeing would increase its contributions to employees 401K plans, but the restoration of pension plans that was taken away over a decade ago, would not be restored.
Under the new contract, annual pay for machinists would go from $75,608 to $119,309 in four years.
By - FZ
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