Article

2024-11-01 Economy

Boeing Union Endorses Latest Offer to End Crippling Strike

[Bloomberg via Yahoo] Boeing Co. and union leaders representing 33,000 striking workers reached a tentative agreement to end a lengthy labor dispute that’s crippling the company’s commercial airplane manufacturing.

The company’s latest proposal would boost wages by 38% over four years and give workers a $12,000 signing bonus if it’s approved, the International Association of Machinists and Aerospace Workers said in a statement.

IAM District 751 urged its members to accept the Boeing offer and end the strike, warning they risked losing gains they’ve made after weeks of collective bargaining. The union plans to hold a vote on the proposal on Nov. 4.

"In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor," the union said late Thursday. "We are at that point now and risk a regressive or lesser offer in the future."

Boeing’s shares rose as much as 2.8% in after-hours trading. The stock had plunged 43% so far this year through the close of Thursday’s session.

The latest attempt to end the labor strife comes after 64% of members of IAM District 751 voted to reject Boeing’s third contract offer, which would’ve hiked wages by 35% over four years. Ratification would represent a critical win for new Chief Executive Officer Kelly Ortberg, clearing the way to move forward with plans to rebuild Boeing’s culture and improve the quality of work in its factories.

Posted by Frank G 2024-11-01 00:00|| || Front Page|| [11152 views ] Top

#1 ... clearing the way to move forward with plans to rebuild Boeing’s culture and improve the quality of work in its factories.

Not to put too fine a point on it, but Boeing's problems are workers doing a crappy job and executives making crappy decisions. Gonna be hard to get different results with the same people doing the same thing. Maybe if everyone had a mandatory monthly flight on the latest Boeing plane, it would give them all a sense of skin in the game.

Posted by SteveS 2024-11-01 11:33|| 2024-11-01 11:33|| Front Page Top

#2 Maybe they should try to establish the culture of a successful company instead.

Posted by Super Hose 2024-11-01 12:40|| 2024-11-01 12:40|| Front Page Top

#3 Then, if they can just sell off their space business (which they have SNAFU'ed) they might be on their way to recovery. They have been shopping it around.
Too few fingers in too many pies.

Posted by ed in texas 2024-11-01 16:08|| 2024-11-01 16:08|| Front Page Top

#4 The culture of a successful company is not possible. What we started with was patriotic blue collar Americans. What we got now, well they ain’t likely trump voters.

Posted by Jefe101 2024-11-01 20:02|| 2024-11-01 20:02|| Front Page Top

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