The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

Business

Boeing workers to vote on new proposal that could end strike

by admin October 22, 2024
October 22, 2024
Boeing workers to vote on new proposal that could end strike

Boeing and its machinists’ union have reached a new contract proposal, the union said Saturday, outlining a deal that could end a more than month-long strike that has hobbled the manufacturers’ aircraft production.

The ratification vote is set for Wednesday.

The new proposal includes 35% wage increases over four years, a higher signing bonus of $7,000, guaranteed minimum payouts in an annual bonus program and higher 401(k) contributions among other changes.

Acting U.S. Secretary of Labor Julie Su met with both parties earlier this week.  “With the help of Acting U.S. Secretary of Labor Julie Su, we have received a negotiated proposal and resolution to end the strike, and it warrants presenting to the members and is worthy of your consideration,” the International Association of Machinists and Aerospace Workers District 751 said in a statement Saturday.

The strike began Sept. 13 after more than 30,000 machinists overwhelmingly rejected a tentative agreement that included 25% wage increases over four years. Boeing later made a sweetened offer but the union blasted it saying it was not negotiated.

“We look forward to our employees voting on the negotiated proposal,” Boeing said in a statement.

Boeing is working to stop bleeding cash as it grapples with a safety crisis stemming from a near-catastrophic door plug blowout on one of its 737 Maxes at start the year and challenges in its other programs.

The company earlier this month said it will report a deep loss and take charges of about $5 billion in its commercial and defense units. A ratified contract on Wednesday, when Boeing also reports full results, would be a victory for new CEO Kelly Ortberg, who took the company’s top job in August, tasked with reshaping the company.

On Oct. 11, he announced job cuts of 10% of Boeing’s workforce and that the company will stop making 767s when orders are fulfilled in 2027.


This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
Disney will name Bob Iger’s replacement in early 2026
next post
Embraer CEO says jet maker studying possibilities for a new aircraft

Related Posts

Retail crime ‘queenpin’ to pay millions in restitution...

January 24, 2025

Johnson & Johnson to pay $6.5 billion to...

May 6, 2024

Universal’s Epic Universe theme park set to open...

October 19, 2024

Nvidia passes Apple as world’s most valuable company

November 8, 2024

Home buyers to be spared broker commissions up...

March 17, 2024

Immersive entertainment company Cosm lands rights to broadcast...

October 30, 2024

Amazon and Nvidia say AI data center demand...

April 25, 2025

Savings drained and living off $2,400 a month,...

July 19, 2024

Free cash programs spread as more cities expand...

April 14, 2024

Extreme heat is prompting higher home cooling costs....

August 1, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Rhode Island’s ‘Taylor Swift Tax’ on vacation homes of the wealthy is spreading to other states

      September 2, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 2, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      September 2, 2025
    • Bernie Sanders calls for RFK Jr. to resign as HHS secretary over vaccine policies: ‘Rally the American people’

      September 2, 2025
    • Rhode Island’s ‘Taylor Swift Tax’ on vacation homes of the wealthy is spreading to other states

      September 2, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      September 1, 2025

    Categories

    • Business (1,371)
    • Politics (4,373)
    • Stocks (1,623)
    • Uncategorized (45)
    • World News (1,364)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved