Striking Boeing union endorses 38% wage hike offer, vote set for Monday
Unionized workers had rejected two earlier contract offers
Strike has lasted about seven weeks, halting production of key aircraft models
Union has endorsed latest deal but approval not guaranteed
Adds details from offer, union, Boeing and worker comments
By Allison Lampert, David Shepardson and Dan Catchpole
SEATTLE, Oct 31 (Reuters) -Striking Boeing BA.N workers will vote on Monday on an improved contract offer that includes a 38% pay rise over four years,a larger signing bonus and carries the endorsement of their union, which told members it had extracted all it could from the planemaker.
The latest offer, presented on Thursday, comes at a critical moment for Boeing, which this week announced it would raise up to $24.3 billion to shore up its battered finances as a seven-week strike by more than 33,000 U.S. West Coast factory workers worsens its cash burn.
"In every negotiation and strike, there is a point where we have extracted everything that we can in bargaining and by withholding our labor. We are at that point now and risk a regressive or lesser offer in the future," the International Association of Machinists and Aerospace Workers (IAM) said.
Members rejected two earlier offers from Boeing.
The planemaker's shares rose 2.8% in after-hours trading after the offer was announced earlier in an exclusive report by Reuters. Shares had closed down 3.2% on Thursday.
Talks between the two sides were held this week with the assistance of Acting U.S. Secretary of Labor Julie Su. The union vote will come the day before the U.S. presidential poll, which is a dead heat between Democrat Kamala Harris, who would be expected to continue the Biden administration's pro-union policies, and Republican Donald Trump.
An approved deal would be a boost for new Boeing CEO Kelly Ortberg, who is pushing for a "fundamental culture change" at the company after a mid-air door panel blowout in January that put the spotlight on its safety and quality record.
The strike has halted production of its strongest-selling 737 MAX jet and its 767 and 777 widebodies.
Boeing said in a statement it encourages "all of our employees to learn more about the improved offer and vote on Monday, Nov. 4."
An end to the strike would also benefit aerospace suppliers that have been furloughing workers and holding off on new capital investments, as well as airlines facing extended aircraft delivery delays.
APPROVAL NOT GUARANTEED
It is not yet clear how union members will vote. The negotiating team had been pushing for a 40% wage increase and the return of a defined-benefit pension that members lost a decade ago.
Last week, some 64% of workers rejected an offer of a 35% general wage increase over four years that was not endorsed by the union.
Boeing's first offer of a 25% wage increase, which was endorsed by the union, was rejected by nearly 95% of workers in September.
James Mann, a 26-year-old 737 mechanic, said he planned to reject the offer proposed on Thursday, but he was prepared to return to work if it was approved by the majority.
"I'm still voting no, because of the pension," he said.
Boeing's latest offer includes a $12,000 ratification bonus, the IAM said in a statement. It combines a previously offered $7,000 ratification bonus and a $5,000 lump sum into the members' 401(k) retirement account.
This would allow workers to choose how the total amount is received, either as part of a paycheck, a contribution to the 401(k) or a combination of both.
The signing bonus and the higher pay raises are "basically what we asked for," said Donovan Evans, 30, who works on the 767 final assembly line at Boeing’s Everett plant and voted to reject the first two offers.
"I feel like it's pretty fair for what we do," he said. "I feel like I'm going to vote yes on Monday."
Reporting by Allison Lampert in Montreal, David Shepardson in Washington and Dan Catchpole in Seattle. Additional reporting by Joe Brock in Los Angeles; Editing by Peter Henderson and Jamie Freed
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अस्वीकरण: XM Group के सत्व केवल निष्पादन वाली सेवा और हमारी ऑनलाइन व्यापार सुविधा में पहुँच प्रदान करते हैं, ताकि व्यक्ति वेबसाइट पर या उसके जरिए उपलब्ध सामग्री को देख सके और/या उसका उपयोग कर सके। इसका प्रयोजन इसे बदलना या विस्तार देना नहीं है, न ही वह इसे बदलता या विस्तार देता है। इस तरह की पहुँच हमेशा ही निम्नलिखित के अधीन रहेगी: (1) नियम और शर्तें; (2) जोखिम चेतावनियाँ; और (3) पूर्ण अस्वीकरण। इसलिए ऐसी जानकारी सामान्य सूचना से अधिक कुछ भी नहीं है। विशेष रूप से, कृपया इससे अवगत रहें कि हमारी ऑनलाइन व्यापार सुविधा की सामग्रियाँ न तो किसी चीज का अनुरोध करती हैं, न ही वित्तीय बाजारों में प्रवेश करने की पेशकश ही करती हैं। किसी भी वित्तीय बाजार में व्यापार करने के साथ आपकी पूँजी को उल्लेखनीय जोखिम है।
हमारी ऑनलाइन व्यापार सुविधा में प्रकाशित सभी सामग्रियाँ शैक्षणिक/सूचनात्मक प्रयोजनों मात्र के लिए हैं, और इनमें वित्तीय, निवेश टैक्स या व्यापार सलाह और सुझाव नहीं हैं - न ही ऐसा समझना चाहिए कि इनमें ये सब हैं; न ही इनमें हमारी व्यापार कीमतों का अभिलेख है; न ही इनमें किसी वित्तीय उपकरण में लेन-देन करने का निमंत्रण या अनुरोध है; न ही ये आपको अवांछित वित्तयी प्रोमोशन पेश करती हैं।
इस वेबसाइट में मौजूद कोई भी तृतीय पक्षीय सामग्री, तथा XM द्वारा तैयार की गई सामग्रियाँ, जैसे: अभिप्राय, समाचार, अनुसंधान, विश्लेषण, कीमतें और अन्य सूचनाएँ या तृतीय पक्षों की साइटों के लिंक, "जैसा-है-वैसा" के आधार पर बाजार के बारे में सामान्य टिप्पणी के रूप में उपलब्ध कराई गई हैं, और वे निवेश हेतु सलाह नहीं हैं। जिस हद तक कीसी सामग्री को निवेश अनुसंधान मान लिया जाता है, उस हद तक आपको ध्यान में रखना होगा और इसे स्वीकार करना होगा कि वह सामग्री इस उद्देश्य से और निवेश अनुसंधान की स्वतंत्रता को बढ़ावा देने के लिए कानूनी आवश्यकताओं के मुताबिक, तैयार नहीं की गई है, और इसलिए उसे प्रासंगिक कानूनों और विनियमों के तहत विपणन संप्रेषण माना जाएगा। कृपया सुनिश्चित करें कि आपने गैर-आश्रित निवेश के बारे में हमारी सूचना को पढ़ और समझ लिया है। पीछे दी गई जानकारी के बारे में अनुसंधान और जोखिम चेतावनी यहाँ उपलब्ध है।
