The Fort Worth Press - Boeing again raises offer to end strike, union to vote Monday

USD -
AED 3.672973
AFN 66.976719
ALL 90.34968
AMD 386.591542
ANG 1.800292
AOA 911.999704
ARS 990.277403
AUD 1.519988
AWG 1.8
AZN 1.698113
BAM 1.797627
BBD 2.016921
BDT 119.368003
BGN 1.798421
BHD 0.376985
BIF 2902.113971
BMD 1
BND 1.320404
BOB 6.902605
BRL 5.790997
BSD 0.998902
BTN 83.916984
BWP 13.354902
BYN 3.269041
BYR 19600
BZD 2.01352
CAD 1.392935
CDF 2887.499594
CHF 0.864155
CLF 0.034844
CLP 961.439861
CNY 7.124898
CNH 7.119295
COP 4421.8
CRC 511.861322
CUC 1
CUP 26.5
CVE 101.34837
CZK 23.278797
DJF 177.877656
DKK 6.858201
DOP 60.156803
DZD 133.25005
EGP 48.951099
ERN 15
ETB 122.695392
EUR 0.91946
FJD 2.250804
FKP 0.765169
GBP 0.775725
GEL 2.744976
GGP 0.765169
GHS 16.212614
GIP 0.765169
GMD 71.000273
GNF 8614.968888
GTQ 7.718044
GYD 208.891708
HKD 7.77486
HNL 25.180031
HRK 6.88903
HTG 131.443015
HUF 375.549895
IDR 15716.95
ILS 3.74325
IMP 0.765169
INR 84.08995
IQD 1308.565835
IRR 42092.520749
ISK 136.909648
JEP 0.765169
JMD 158.032362
JOD 0.709204
JPY 152.304955
KES 128.859818
KGS 85.800902
KHR 4058.823529
KMF 453.600853
KPW 899.999774
KRW 1379.344962
KWD 0.30657
KYD 0.83246
KZT 487.720363
LAK 21914.005772
LBP 89452.708882
LKR 292.634056
LRD 191.794042
LSL 17.635191
LTL 2.95274
LVL 0.60489
LYD 4.81436
MAD 9.828857
MDL 17.880597
MGA 4602.983483
MKD 56.631954
MMK 3247.960992
MNT 3398.000028
MOP 7.997298
MRU 39.497606
MUR 46.109704
MVR 15.350632
MWK 1732.093126
MXN 20.0381
MYR 4.380502
MZN 63.890979
NAD 17.635434
NGN 1642.359935
NIO 36.755853
NOK 11.01054
NPR 134.264089
NZD 1.674135
OMR 0.385025
PAB 0.998994
PEN 3.76165
PGK 4.001875
PHP 58.296994
PKR 277.574242
PLN 4.003154
PYG 7897.095115
QAR 3.642104
RON 4.574097
RSD 107.614042
RUB 97.376757
RWF 1360.122795
SAR 3.755803
SBD 8.316332
SCR 13.62021
SDG 601.500483
SEK 10.654799
SGD 1.322585
SHP 0.765169
SLE 22.650061
SLL 20969.496802
SOS 570.861347
SRD 34.366978
STD 20697.981008
SVC 8.74097
SYP 2512.530268
SZL 17.643545
THB 33.820964
TJS 10.638566
TMT 3.51
TND 3.087493
TOP 2.342097
TRY 34.311198
TTD 6.778617
TWD 31.9635
TZS 2710.000007
UAH 41.170415
UGX 3657.236346
UYU 41.158845
UZS 12766.661458
VEF 3622552.534434
VES 42.656503
VND 25277.5
VUV 118.722039
WST 2.801184
XAF 602.907196
XAG 0.029645
XAU 0.000367
XCD 2.70255
XDR 0.750834
XOF 602.904425
XPF 109.614978
YER 250.325008
ZAR 17.610501
ZMK 9001.199493
ZMW 26.745527
ZWL 321.999592
  • CMSC

    -0.0400

    24.55

    -0.16%

  • CMSD

    -0.1700

    24.66

    -0.69%

  • SCS

    -0.2000

    12.03

    -1.66%

  • BTI

    0.6200

    34.98

    +1.77%

  • RIO

    -1.0100

    64.89

    -1.56%

  • BCC

    -1.3400

    133.03

    -1.01%

  • BP

    0.3400

    29.36

    +1.16%

  • NGG

    -1.4800

    63.59

    -2.33%

  • GSK

    -0.2500

    36.76

    -0.68%

  • AZN

    -1.6800

    71.15

    -2.36%

  • RELX

    -0.6900

    46.22

    -1.49%

  • RBGPF

    59.6000

    59.6

    +100%

  • BCE

    0.0200

    32.26

    +0.06%

  • JRI

    0.0300

    13.08

    +0.23%

  • VOD

    -0.1200

    9.27

    -1.29%

  • RYCEF

    0.0800

    6.94

    +1.15%

Boeing again raises offer to end strike, union to vote Monday
Boeing again raises offer to end strike, union to vote Monday / Photo: © POOL/AFP/File

Boeing again raises offer to end strike, union to vote Monday

US aviation giant Boeing has once again improved the conditions in its contract offer to thousands of striking workers, hoping to put an end to a painful strike that has paralyzed its two main factories for seven weeks.

Text size:

The International Association of Machinists and Aerospace Workers District 751, the union which represents more than 33,000 workers who went on strike on September 13 in the Seattle area, on Thursday endorsed the new offer and set a vote for Monday.

The offer includes a 38 percent wage increase over the four years of the contract and a $12,000 ratification bonus, up from $7,000 in the previous proposal, Boeing said in a separate statement.

"Your union is endorsing and recommending the latest IAM/Boeing contract proposal. It is time for our members to lock in these gains and confidently declare victory," the IAM chapter said.

This was the fourth offer made by Boeing since early September, but the third on which members have been asked to vote.

Members overwhelmingly rejected an offer of a 25 percent raise over four years on September 12. A second offer, which promised a 35 percent pay rise, was rejected by nearly two-thirds of members last week.

The union has consistently asked for a 40 percent salary increase.

"We believe asking members to stay on strike longer wouldn't be right as we have achieved so much success," the union said.

"We encourage all of our employees to learn more about the improved offer and vote on Monday, November 4," Boeing said, noting that the average machinist will make $119,309 by the end of the contract if the offer is accepted, up from $75,608.

The other conditions in the contract remain unchanged, such as an annual bonus, and the company's commitment to build its next plane -- expected in 2025 -- in the Seattle area, where Boeing was founded in July 1916.

Union requests to restore a pension plan discarded in 2014 were not honored.

- Crucial vote -

It remains to be seen if union members will heed the endorsement of the contract by their leaders and head back to work. A simple majority is required for ratification.

An end to the strike is needed by Boeing, which has faced separate financial difficulties in addition to the work stoppage that paralyzed the two factories that assemble the 737 MAX, the 777 and other planes.

Only the factory responsible for the 787 Dreamliner in South Carolina has been operational, but it is only producing four planes a month.

- Increased oversight -

Boeing has made a series of moves since mid-September to help ease its cash crunch.

In mid-October, it announced a 10 percent reduction in its global workforce, amounting to around 17,000 positions cut. This week, it launched a stock offering expected to raise about $21 billion.

Even before the strike, Boeing had slowed production in its commercial plane division to ensure greater attention to safety protocols after a 737 MAX flown by Alaska Airlines was forced to make an emergency landing in January when a fuselage panel blew out mid-flight.

The near-catastrophe -- coming after two fatal 737 MAX crashes in 2018 and 2019 that claimed 346 lives -- put Boeing under intense regulatory oversight once again.

Boeing reported a whopping $6.2 billion quarterly loss last week.

G.Dominguez--TFWP