High Stakes Vote: Boeing Workers Contemplate Wage Proposal Amidst Ongoing Strike

Boeing's shares rose by 3.5% as workers prepare to vote on a new wage offer to potentially end a seven-week strike. The proposal includes a 38% pay rise over four years and a $12,000 bonus, but lacks a defined-benefit pension. Some workers are divided on accepting the deal.

Boeing's stock experienced a 3.5% surge on Friday as optimism grows regarding a potential end to a seven-week strike that has stalled production and impacted the company's finances. On Monday, approximately 33,000 workers are set to vote on a new contract that proposes a 38% wage increase over four years.

The offer also includes a $12,000 ratification bonus but falls short of restoring a defined-benefit pension, a key demand. Boeing employees, having rejected two earlier proposals, are divided. While some see the deal as promising, others aim for a 40% wage hike.

CEO Kelly Ortberg has urged acceptance, emphasizing the need to focus on rebuilding. The protracted strike has led to significant financial impacts, halting the production of key aircraft models and contributing to a $6 billion third-quarter loss. Analysts monitor social media for insights into worker sentiment as the vote approaches.

(With inputs from agencies.)