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Machinists union ratifies pact with Boeing


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Machinists union ratifies pact with Boeing

 

44 mins ago

 

SEATTLE – Machinists union members have ratified a new contract with The Boeing Co., ending an eight-week strike that cut the airplane maker's profits and stalled jetliner deliveries.

 

Union members voted about 74 percent in favor of the proposal on Saturday, five days after the two sides tentatively agreed to the deal and union leaders recommended its approval. The union represents about 27,000 workers at plants in Washington state, Oregon and Kansas.

 

The union has said the contract protects more than 5,000 factory jobs, prevents the outsourcing of certain positions and preserves health care benefits. It also promises pay increases over four years rather than three, as outlined in earlier offers.

 

 

Associated Press
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Machinists Vote to Ratify Contract Offer and Return to Work

 

SEATTLE, Nov. 02, 2008 -- Striking Boeing [NYSE: BA] machinists in Washington, Oregon and Kansas voted to ratify a new four-year contract that includes excellent wages and an industry-leading pension. About 27,000 employees represented by the International Association of Machinists and Aerospace Workers (IAM) will begin returning to work with the third shift Nov. 2, ending a 58-day walkout.

 

"We're looking forward to having our team back together to resume the work of building airplanes for our customers," said Scott Carson, Boeing Commercial Airplanes president and CEO. "This new contract addresses the union's job security issues while enabling Boeing to retain the flexibility needed to run the business. It rewards employees for their contribution to our success with industry-leading pay and benefits and allows us to remain competitive."

 

The contract calls for general wage increases of 15 percent over four years, an immediate 16 percent pension increase and lump-sum payments of at least $8,000 over the life of the agreement.

 

The new contract is for four years, longer than Boeing has typically negotiated with the IAM, which adds to long-term stability for Boeing, its employees, customers, suppliers and communities.

 

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Contact Info:

Tim Healy

Boeing Commercial Airplanes

+1 206-321-3936

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