More than 33,000 Boeing workers reached a tentative agreement Monday night to end a weekslong strike that quickly became one of the costliest strikes in recent history—estimated to have cost the US economy more than $9.6 billion.
Through their unions, International Association of Machinists and Aerospace Workers (IAM) Districts 751 and W24, workers in Washington state, Oregon, and California had previously rejected two inadequate Boeing offers while the company lost hundreds of millions daily. Negotiations had stalled until US Secretary of Labor Julie Su stepped in, IAM said in a press release, helping to restart talks and get to a deal that 59 percent of workers could agree on.
Under the proposed deal, workers will receive a 43 percent wage increase over four years, as well as a $12,000 bonus they can choose to receive in their paycheck, as a 401(k) contribution, or a combination of both. Additionally, Boeing agreed to match 401(k) contributions up to 8 percent.