A dispute between Boeing and its workers that has paralysed aircraft production for more than a month could be put to rest next week thanks to a new contract proposal that would provide pay raises and bonuses.
On Saturday morning, the International Association of Machinists and Aerospace Workers announced it was planning to hold a ratification vote on Wednesday. The deal would raise wages by 35 per cent over four years, up from the 30 per cent offered last month. It also increases advance bonuses to $7,000 per worker instead of $6,000.
However, the new proposal would not restore the traditional pension plan, a major demand of the 33,000 striking workers, but would increase the amount Boeing would contribute to 401(k) retirement plans with them, according to the union.
Some 33,000 IAM District 751 members went on strike the middle of September. It halted production of Boeing 737 aircraft, including the 737 Max, as well as the 767 and 777. Boeing continues to build the 787 Dreamliner at a non-unionised plant in South Carolina.
