Did Boeing Machinists Approve a New Contract? Votes Being Tabulated
What's the News?
Boeing machinists in the Puget Sound region are voting on a new contract offer from the company. The results of the vote are expected to be announced later today. The contract offer includes a 3% pay raise in each year of the four-year contract, as well as increased pension benefits and other improvements.
Why It Matters
The vote is being closely watched by both Boeing and the union representing the machinists, the International Association of Machinists and Aerospace Workers (IAM). A "yes" vote would give Boeing labor peace for the next four years and allow the company to focus on ramping up production of its new 777X jetliner. A "no" vote would likely lead to a strike, which would disrupt production and cost Boeing millions of dollars.
What's Next
The results of the vote are expected to be announced later today. If the contract is approved, it will be a major victory for Boeing. If the contract is rejected, it will be a setback for the company and could lead to a strike.
Background
The current contract between Boeing and the IAM expired on Sept. 1, 2023. The two sides have been negotiating a new contract for months. The main sticking points in the negotiations have been wages, pensions, and healthcare.
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