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
면책조항: XM Group 회사는 체결 전용 서비스와 온라인 거래 플랫폼에 대한 접근을 제공하여, 개인이 웹사이트에서 또는 웹사이트를 통해 이용 가능한 콘텐츠를 보거나 사용할 수 있도록 허용합니다. 이에 대해 변경하거나 확장할 의도는 없습니다. 이러한 접근 및 사용에는 다음 사항이 항상 적용됩니다: (i) 이용 약관, (ii) 위험 경고, (iii) 완전 면책조항. 따라서, 이러한 콘텐츠는 일반적인 정보에 불과합니다. 특히, 온라인 거래 플랫폼의 콘텐츠는 금융 시장에서의 거래에 대한 권유나 제안이 아닙니다. 금융 시장에서의 거래는 자본에 상당한 위험을 수반합니다.
온라인 거래 플랫폼에 공개된 모든 자료는 교육/정보 목적으로만 제공되며, 금융, 투자세 또는 거래 조언 및 권고, 거래 가격 기록, 금융 상품 또는 원치 않는 금융 프로모션의 거래 제안 또는 권유를 포함하지 않으며, 포함해서도 안됩니다.
이 웹사이트에 포함된 모든 의견, 뉴스, 리서치, 분석, 가격, 기타 정보 또는 제3자 사이트에 대한 링크와 같이 XM이 준비하는 콘텐츠 뿐만 아니라, 제3자 콘텐츠는 일반 시장 논평으로서 "현재" 기준으로 제공되며, 투자 조언으로 여겨지지 않습니다. 모든 콘텐츠가 투자 리서치로 해석되는 경우, 투자 리서치의 독립성을 촉진하기 위해 고안된 법적 요건에 따라 콘텐츠가 의도되지 않았으며, 준비되지 않았다는 점을 인지하고 동의해야 합니다. 따라서, 관련 법률 및 규정에 따른 마케팅 커뮤니케이션이라고 간주됩니다. 여기에서 접근할 수 있는 앞서 언급한 정보에 대한 비독립 투자 리서치 및 위험 경고 알림을 읽고, 이해하시기 바랍니다.
