BREAKING: A NEW Tentative Agreement Reached Between Boeing and Striking Machinists
Members will vote to accept or reject the offer on Monday.
By Peter List, Editor | October 31, 2024
After seven weeks on strike, a new tentative contract has been reached between Boeing and the International Association of Machinists.
In a post to its membership on X (formerly Twitter), the union is recommending the offer to the offer to its striking members.
“In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor,” the union stated. “We are at that point now and risk a regressive or lesser offer in the future.”
While it does not appear the union was able to win back the pension it lost a decade ago, which was one of the union’s main sticking points in settling the strike, the wage increases appear to be a significant improvement over the offer rejected two weeks ago.
This contract builds on everything achieved in the September 12, 2024 agreement, with the additional gains you achieved by going on strike. The two significant changes in this offer from the last one are: -38% GWI over four years - 13%, 9%, 9%, 7%, which compounds to 43.65% over the life of the agreement -The $12,000 Ratification bonus combines the previous $7k ratification bonus and the $5K lump sum into the 401k. Now, members can choose how this total amount is received - in your paycheck, contribution to your 401K, or a combination of both.
Members will have the opportunity to vote on the new offer on Monday, November 4, 2024.
The union has provided more details at this link.
no pension restoration. Continuation of 401k