<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=3fjUOY_0wDhflp300" alt="https://img.particlenews.com/image.php?url=3fjUOY_0wDhflp300" width="900" height="506" ><figcaption>The Boeing logo can be seen at the company's factory in Renton on Tuesday, Sept. 24, 2024. (File photo: Lindsey Wasson, AP)</figcaption></figure>The machinists union with more than 33,000 members that has been on strike for more than a month will vote on a new, revised contract offer from Boeing, the union announced Saturday morning.In a statement, the union, the International Association of Machinists (IAM) and Aerospace Workers District 751, announced that “with the help of Acting U.S. Secretary of Labor Julie Su, we have received a negotiated proposal and resolution to end the strike, and it warrants presenting to the members and is worthy of your consideration.” They said that when the annual pay raises are compounded, they total 39.8%.The union listed a series of key tenets of the deal, most notably a 35% general wage increase spread over four years, including 12% in Year 1, 8% in Year 2, 8% in Year 3 and 7&amp; in Year 4. The union had been seeking a 40% raise. Boeing initially offered a 25% raise before coming up to 30% in a previous offer.Boeing has said that average annual pay for machinists is currently $75,608.The new offer would not restore a traditional pension plan — a key demand of the striking workers — but it would increase the amount of contributions to 401(k) retirement plans that Boeing would match. Boeing’s 401(k) match will increase to a 100% match of of the first 8% employees contribute. In addition, a “Special Company Retirement Contribution of 4% guaranteed company contribution” is part of the offer. The union added a one-time $5,000 contribution will be given to each member’s Boeing 401(k).In addition, the Aerospace Machinists Performance Plan (AMPP), an incentive plan, will be reinstated, with a guaranteed minimum annual payout of 4%. That includes the 2024 payout in February 2025.Boeing will also pay a one-time bonus of $7,000 when the contract is ratified. That is an increase from the previous offer of $6,000.Regarding pension, the Boeing Company Employee Retirement Plan (BCERP) multiplier benefit increases to $105 per month per year of service for vested employees, up from $95.The union has provided information on the new negotiated resolution that can be seen at this website.“Following many years of making financial sacrifices to keep the company afloat, IAM members have sought to regain some of the lost ground of the last 10 years, and to improve job security protections, overtime rules, and decrease their share of health insurance costs, among other priorities,” the statement the union issued Saturday states.The union will hold the contract ratification vote Wednesday. Currently, it is working to secure voting locations to accommodate its membership. There will be only one ballot to accept or reject the bargaining agreement, the union’s statement on its website reads. A simple majority (50% +1) of members voting will determine the outcome. “No strike vote is required as we are already on strike,” the statement adds.From Feliks Banel: Summoning Boeing history to help restore the company cultureIn a joint statement that is part of the union’s news release, IAM District 751 President Jon Holden and IAM District W24 President Brandon Bryant reiterated some of the key goals of the strike and pointed to its role in getting Boeing to alter its prior proposals.“The fact the company has put forward an improved proposal is a testament to the resolve and dedication of the frontline workers who’ve been on strike – and to the strong support they have received from so many,” Holden and Bryant stated. “This proposal will be carefully reviewed and voted upon by the frontline workers of Boeing whose dedication to their communities and families have made this company successful in the past. The workers will ultimately decide if this specific proposal is sufficient in meeting their very legitimate needs and goal of achieving respect and fairness at Boeing.”MyNorthwest has reached out to Boeing seeking a comment on the union’s actions and has not yet heard back.Boeing locations in the states of Washington, Oregon and California have been on strike since Sept. 13.<figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=2Yavi8_0wDhflp300" alt="https://img.particlenews.com/image.php?url=2Yavi8_0wDhflp300" width="900" height="506" ><figcaption>Unpainted Boeing 737 Max aircraft are seen on Tuesday, Sept. 24, 2024, at the company’s facilities in Renton. (File photo: Lindsey Wasson, AP)</figcaption></figure><h2>Union members held rally amid strike ahead of new Boeing contract offer</h2>Members held a rally at the IAM Union Hall in South Seattle Tuesday.Hundreds of members drove in, walked in or were brought to the rally by bus. Some heavy hitters were also there and spoke to the crowd, including Washington’s Democratic U.S. Sen. Maria Cantwell, Democratic U.S. Rep. Pramila Jayapal, and Washington Labor Council President April Sims.“In the last decade of this contract, the cost of living has gone up 30% but your wages only went up 15%,” Cantwell told the group. “So, today we’re here to say that a fair contract is about paying one of the greatest unions in the world … our Puget Sound economy depends on it.”Jayapal also spoke to the group and made her feelings clear.“You deserve respect,” Jayapal said. “You deserve dignity. You deserve a fair contract, fair wages, healthcare benefits, and pensions.”Union members gather: Large rally held amid strikeIn response to the rally, Boeing emailed a statement to KIRO Newsradio and MyNorthwest. The company noted it wants to find solutions.“We remain committed to finding a solution to end the strike,” the company stated. “We will work with the union when they are ready to bargain an agreement that recognizes our employees and preserves our company’s future.”<h2>Looking at the Boeing finances</h2>Boeing received a $10 billion bank credit line with “several big banks” and is expected to siphon off as much as $25 billion in stock in a move to stay financially afloat while the machinists strike wages on.The company is expected to pursue a stock offering that raises around $10 billion, The Wall Street Journal previously reported, and the company told investors it could issue up to $25 billion in shares or debt during the next three years while also entering into a new credit agreement with lenders.Last week, Boeing CEO Kelly Ortberg said in a statement to employees that the company will lay off about 10% of its staff “over the coming months.”“We must also reset our workforce levels to align with our financial reality and to a more focused set of priorities,” Ortberg said in the statement.The CEO added the reductions will include executives, managers and employees.“As we move through this process, we will maintain our steadfast focus on safety, quality and delivering for our customers,” Ortberg’s letter to employees stated. “We know these decisions will cause difficulty for you, your families and our team, and I sincerely wish we could avoid taking them. However, the state of our business and our future recovery require tough actions.”Ortberg added that leadership will share “more tailored information” with their teams about what this means for organizations across the company.The CEO’s letter added in the announcement that, given the layoff decision, the company wouldn’t proceed with the next cycle of furloughs it had previously instituted.It is not yet known if the union’s ratification of the contract will affect the announced layoffs.More on Boeing: Company to lay off about 10% of its workforce, stop most production of 767s amid strike<h2>Boeing faces a new FAA review as a key supplier plans furloughs</h2>Boeing’s biggest supplier of aircraft components said Friday that it will temporarily furlough 700 workers later this month, warning that it would have to resort to layoffs if a strike by Boeing machinists lasts beyond November.Spirit AeroSystems said Friday that starting Oct. 28, employees who build parts of Boeing 767s and 777s will be off the job for three weeks. A strike by about 33,000 Boeing workers in the Pacific Northwest that started Sept. 13 halted production of those planes and Boeing 737 Max jets.Boeing is in the process of buying Spirit for $4.7 billion to reduce outsourcing and to have more control over its supply chain.The furloughs at a key supplier were announced as Boeing faced a new review of its compliance with Federal Aviation Administration (FAA) safety regulations.The FAA said it will examine key safety processes at Boeing over the next three months to make sure that they “result in timely, accurate safety-related information for FAA use.”An FAA spokesperson said the review was not triggered by any particular event but rather is part of the FAA’s oversight of safety culture at the huge aircraft maker. The FAA increased its scrutiny of the company after a panel blew off a Boeing Max during an Alaska Airlines flight in January.A Boeing spokesperson said Friday, “We continue to cooperate fully and transparently with the FAA. We support all actions that strengthen safety in aviation.”Contributing: James Lynch, KIRO Newsradio; The Associated Press; Frank Sumrall, MyNorthwestSteve Coogan is the lead editor of MyNorthwest. You can read more of his stories here. Follow Steve on X, or email him here.</div></body>

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After new Boeing contract offer, machinists union members will vote to end strike

The machinists union with more than 33,000 members that has been on strike for more than a month will vote on a new, revised contract offer from Boeing, the union announced Saturday morning. In a statement, the union, the International Association of Machinists (IAM) and Aerospace Workers District 751, announced...