Summary
Boeing’s unionized machinists voted to approve a revised contract, ending a seven-week strike that had stalled plane production.
The contract includes a 38% wage increase over four years, a $12,000 bonus, and enhanced 401K contributions, though it doesn’t restore pensions—a key issue for workers.
The agreement follows earlier rejected offers and marks a turning point after union leaders urged ratification, citing potential risks of future regressive offers.
The strike had halted production of Boeing’s 737 models, contributing to Boeing’s recent $6.1 billion quarterly loss amidst ongoing safety concerns and federal scrutiny.
I chatted with Boeing strikers about this.
The contract proposal was announced on Halloween, with the strikers getting contract details in a conference call that night (while many were either out trick or treating with their kids or otherwise having fun). The vote was scheduled for Monday, the day before a massively monumental election.
They didn’t get the pensions they wanted most. This entire thing was timed for maximum anxiety and distraction.
Pensions are dead, sadly.