Boeing mechanics to vote on new proposal to end strike | Wilnesh News

boeing company The union said on Saturday its machinists union had reached a new contract proposal, outlining a deal that could end a more than month-long strike that has hampered the manufacturer’s aircraft production.

A ratification vote is scheduled for Wednesday.

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

Acting U.S. Labor Secretary Julie Su met with both parties earlier this week. The International Association of Machinists and Aerospace Workers said: “With the help of Acting U.S. Secretary of Labor Julie Sue, we received a negotiation proposal and resolution to end the strike that is worth presenting to our members and worthy of your consideration.” 751 said in a statement on Saturday.

The strike began on September 13 after more than 30,000 machinists overwhelmingly rejected a tentative deal that included a 25% pay rise over four years. Boeing later made a better offer, but the union slammed it, calling it non-negotiated.

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

Boeing is trying to stem the flow of cash as it grapples with a safety crisis earlier this year stemming from a near-catastrophic door jam burst on one of its 737 Max planes, as well as challenges in other programs.

The company said earlier this month it would report a huge loss and take about $5 billion in charges at its commercial and defense units. The contract approval on Wednesday would be a victory for new Chief Executive Kelly Ortberg, when Boeing is due to report its full results.

On October 11, he announced 10% of Boeing’s layoffs and said the company would stop producing 767 aircraft after orders are completed in 2027.