Boeing Co.'s machinists, numbering over 32,000, have concluded a seven-week strike, following the approval of a new contract by a majority vote. This contract promises a 43.65% compounded wage increase.
The machinists, affiliated with the International Association of Machinists and Aerospace Workers (IAM) District 751 and W24, have agreed to the union contract, which is deemed a benchmark for compensation in the aerospace sector.
The workers commenced their strike on September 13, seeking improved contract conditions. The latest offer, which is the company's fourth, finally received the union members' endorsement after the previous three were turned down.
The IAM reported a 59% approval rate for the new agreement.
The contract stipulates a 43.65% compounded wage increase over its four-year duration, translating to a 38% increase before compounding.
Gary Allen, IAM Western Territory General Vice President, remarked, "For many frontline Boeing workers in the IAM Union, the terms of this contract will be life-changing. It's the most significant upgrade we've had to our collective bargaining agreement in a decade - and it will prove to be an example for the rest of the industry to live up to. Their strike was a great example of workers standing up for not just themselves, but also their families and communities."
