Boeing Strike Nears Conclusion: Workers to Vote on New Contract

Boeing and its machinists union appear closer to resolving a strike affecting 33,000 workers, as members prepare to vote on a new contract with significant pay hikes. The potential agreement, mediated with federal assistance, follows Boeing's withdrawal of a previous offer, amid significant workforce reductions and economic challenges.

The machinists' union at Boeing announced that members would vote on Wednesday on a new contract proposal aiming to end an ongoing strike. The plan includes a 35% pay increase over four years, involving 33,000 unionized workers primarily in Washington state. Striking since September, the workers' dispute halted production of Boeing's key aircraft models.

The latest offer promises a $7,000 ratification bonus, reinstates an incentive plan, and increases 401k contributions. Boeing declined to comment. The company had retracted an earlier proposal that suggested a 30% wage rise after negotiations reached an impasse despite mediation efforts.

In an effort spearheaded by Acting U.S. Secretary of Labor Julie Su, the union expressed optimism regarding the new proposal's merit. Federal mediation played a crucial role in this development, as the labor secretary engaged with both the union and Boeing executives in Seattle over the past week.

(With inputs from agencies.)