Boeing Factory Workers Vote To Approve Latest Contract Offer And End 7-Week Strike

Topline

Boeing’s striking factory workers voted to accept the company’s revised contract offer—promising a larger wage increase and bonus payments—and end a seven-week-long work stoppage, setting the stage for the crisis-ridden company to restart production lines for its key aircraft.

Key Facts

In an update on social media, the International Association of Machinists and Aerospace Workers (IAM) union—which represents the striking workers—said 59% of its members voted in favor of the new contract offer.

The striking machinists can return to work as early as the first shift on Wednesday or latest by November 12, which is next Tuesday, the statement added.

Jon Holden, the local president of the IAM union, said the new contract was a “victory” and added: “We all stood strong, and we achieved something that we hadn’t achieved the last 22 years.”

Holden said their job was now to “get back to work and start building the airplanes, increase the rates and bring this company back to financial success.”

The contract offer ratified by the striking workers includes a 38% raise over four years and a combined cash bonus of $12,000—including a $7,000 ratification bonus and a $5,000 contribution to their 401(k) accounts.

Boeing CEO Kelly Ortberg said the company was “pleased to reach a ratified agreement” with the union and added: “There is much work ahead to return to the excellence that made Boeing an iconic company.”

Crucial Quote

President Joe Biden congratulated the union for securing the agreement and said: “Over the last four years, we’ve shown collective bargaining works. Good contracts benefit workers, businesses, and consumers—and are key to growing the American economy from the middle out and the bottom up.”

Big Number

33,000. That is the number of Boeing’s factory workers from the Pacific Northwest area who were participating in the strike.