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Boeing has increased its contract offer to more than 30,000 machinists, calling it their “best and final” proposal as the strike enters its second week. The new offer includes higher pay, annual bonuses reinstated, and increased bonuses upon contract ratification. General wages would see a 30% increase over four years, with a $6,000 ratification bonus, reinstated annual bonus, and improved 401(k) match. The labor union, International Association of Machinists and Aerospace Workers, is currently reviewing the offer. The deadline for ratification is Friday at 11:59 p.m. PT.
The strike, the first since 2008, is costing Boeing an estimated $50 million per day. Both the company and the union expressed disappointment with negotiations last week. Workers have rejected the previous proposal with a 94.6% vote, citing the need for wages to keep up with the rising cost of living in the Seattle area. Some workers have taken on additional jobs in preparation for a prolonged strike.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.
