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

USD -
AED 3.673027
AFN 68.112673
ALL 94.198378
AMD 389.366092
ANG 1.801814
AOA 913.000309
ARS 998.416897
AUD 1.528496
AWG 1.8025
AZN 1.700568
BAM 1.877057
BBD 2.018523
BDT 119.468305
BGN 1.87679
BHD 0.376794
BIF 2953.116752
BMD 1
BND 1.347473
BOB 6.908201
BRL 5.800994
BSD 0.99976
BTN 84.384759
BWP 13.658045
BYN 3.27175
BYR 19600
BZD 2.015164
CAD 1.393455
CDF 2870.999877
CHF 0.89073
CLF 0.035441
CLP 977.925332
CNY 7.242986
CNH 7.24248
COP 4389.749988
CRC 509.237487
CUC 1
CUP 26.5
CVE 105.825615
CZK 24.2045
DJF 178.031575
DKK 7.12045
DOP 60.252411
DZD 134.221412
EGP 49.386169
ERN 15
ETB 122.388982
EUR 0.954715
FJD 2.27595
FKP 0.789317
GBP 0.794331
GEL 2.740277
GGP 0.789317
GHS 15.795384
GIP 0.789317
GMD 70.999825
GNF 8617.496041
GTQ 7.717261
GYD 209.15591
HKD 7.78361
HNL 25.264168
HRK 7.133259
HTG 131.234704
HUF 392.814987
IDR 15943.55
ILS 3.70177
IMP 0.789317
INR 84.43625
IQD 1309.659773
IRR 42074.999843
ISK 139.679819
JEP 0.789317
JMD 159.268679
JOD 0.7091
JPY 154.057498
KES 129.468784
KGS 86.501234
KHR 4025.145161
KMF 472.500707
KPW 899.999621
KRW 1404.510504
KWD 0.30785
KYD 0.833149
KZT 499.179423
LAK 21959.786938
LBP 89526.368828
LKR 290.973655
LRD 180.450118
LSL 18.040693
LTL 2.95274
LVL 0.60489
LYD 4.882192
MAD 10.057392
MDL 18.23504
MGA 4666.25078
MKD 59.052738
MMK 3247.960992
MNT 3397.999946
MOP 8.015644
MRU 39.77926
MUR 46.8503
MVR 15.460191
MWK 1733.576467
MXN 20.361006
MYR 4.467973
MZN 63.9101
NAD 18.040693
NGN 1696.695737
NIO 36.786794
NOK 11.00941
NPR 135.016076
NZD 1.705801
OMR 0.384846
PAB 0.99976
PEN 3.790969
PGK 4.025145
PHP 58.939017
PKR 277.626662
PLN 4.139449
PYG 7804.59715
QAR 3.646048
RON 4.78029
RSD 112.294256
RUB 103.747172
RWF 1364.748788
SAR 3.754429
SBD 8.383555
SCR 13.699007
SDG 601.497256
SEK 10.97345
SGD 1.343205
SHP 0.789317
SLE 22.729774
SLL 20969.504736
SOS 571.332598
SRD 35.493964
STD 20697.981008
SVC 8.748021
SYP 2512.529858
SZL 18.034455
THB 34.443007
TJS 10.647152
TMT 3.5
TND 3.17616
TOP 2.342102
TRY 34.531755
TTD 6.790153
TWD 32.583499
TZS 2659.340659
UAH 41.35995
UGX 3694.035222
UYU 42.516436
UZS 12825.951341
VES 46.55914
VND 25419
VUV 118.722009
WST 2.791591
XAF 629.547483
XAG 0.031868
XAU 0.000368
XCD 2.70255
XDR 0.760497
XOF 629.547483
XPF 114.458467
YER 249.924973
ZAR 18.01705
ZMK 9001.187483
ZMW 27.617448
ZWL 321.999592
  • SCS

    0.2300

    13.27

    +1.73%

  • BCC

    3.4200

    143.78

    +2.38%

  • RBGPF

    59.2400

    59.24

    +100%

  • BCE

    0.0900

    26.77

    +0.34%

  • RIO

    -0.2200

    62.35

    -0.35%

  • CMSD

    0.0150

    24.46

    +0.06%

  • CMSC

    0.0320

    24.672

    +0.13%

  • RYCEF

    -0.0100

    6.79

    -0.15%

  • JRI

    -0.0200

    13.21

    -0.15%

  • NGG

    1.0296

    63.11

    +1.63%

  • VOD

    0.1323

    8.73

    +1.52%

  • RELX

    0.9900

    46.75

    +2.12%

  • GSK

    0.2600

    33.96

    +0.77%

  • AZN

    1.3700

    65.63

    +2.09%

  • BP

    0.2000

    29.72

    +0.67%

  • BTI

    0.4000

    37.38

    +1.07%

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