05-Nov-2024 04:47 PM
1680
New York, Nov 5 (Reporter) Striking workers at embattled plane maker Boeing voted Monday to accept the company’s most recent offer, ending the costliest strike in the United States in more than 25 years, media reports said on Tuesday.
The International Association of Machinists (IAM) said rank-and-file members voted by 59% to approve the deal, CNN reported.
IAM members unanimously opposed Boeing's first offer, extending the strike, and 64% voted against the second offer less than two weeks ago, the report said.
“I’m proud of our members. It is a win,” said Jon Holden, president of the largest IAM local at Boeing and the union’s chief negotiator. “They achieved a lot, and we’re ready to move forward.”
Asked what prompted a positive vote this time after two previous rejections, Holden told reporters, “Members are ready, ready to come back. I look forward to getting them back to work.”
Boeing said it was pleased with the outcome.
“While the past few months have been difficult for all of us, we are all part of the same team,” CEO Kelly Ortberg said in a statement. “We will only move forward by listening and working together. There is much work ahead to return to the excellence that made Boeing an iconic company.”
According to reports, around 33,000 union members, who have been on strike since September 13, will start returning to work Wednesday.
The deal calls for an immediate raise of 13% and raises of 9% for each of the next two years, and then another 7% in the fourth and final year of the contract. Taken together, members will receive a pay raise that exceeds 43%.
Workers also get a ratification bonus of $12,000, part of which they can contribute to 401(k) retirement accounts. But the deal did not restore the traditional pension plan they lost in 2014 from their previous labour deal, the report said.
Workers’ continued anger at the loss of that pension plan was seen as a major factor in the rejection of Boeing’s (BA) previous two offers and had raised uncertainty about the outcome of Monday’s vote...////...