The International Association of Machinists and Aerospace Workers (IAM) District 751, representing Boeing workers, has endorsed a new contract proposal that could potentially end the ongoing strike.
“It is time for our Members to lock in these gains and confidently declare victory,” the union wrote, adding that they have “achieved so much success” through the strike.
One of the most significant changes is a 38 percent general wage increase over four years, which compounds to nearly 44 percent over the life of the agreement. The breakdown is 13 percent in the first year, followed by nine percent in both the second and third years, and 7 percent in the fourth year, according to the union.
Another major change is a one-time $12,000 ratification bonus, which combines a previous $7,000 ratification bonus and a $5,000 lump sum contribution to a worker’s 401(k). The new proposal allows members to choose how they receive the money, either to their paycheck, as a contribution to their 401(k), or both.
Other additions include the reinstatement of a performance incentive plan that includes a guaranteed minimum annual payout of four percent, an increase in the company’s 401(k) match to 100 percent of the first eight percent contributed, and a four percent automatic company contribution.
Union leaders warned of the potential risks of prolonging the strike.
“In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor. We are at that point now and risk a regressive or lesser offer in the future,” they said.
A Boeing spokesperson didn’t immediately return a request for further comment by NTD, a sister outlet of The Epoch Times.
The outcome of Monday’s vote will determine whether the strike, which has had a large impact on Boeing’s operations, will come to an end. Union members were advised by the union to check their email for information on voting locations and times.
