Boeing workers vote on wage deal that could end strike
Contract offers 38% pay raise over four years
Union leader endorses deal after two previous no votes
Voting closes at 7 p.m. PT (0300 GMT)
Strike has halted jet production, hammered Boeing finances
Adds comment from union official in paragraphs 5-6
By Dan Catchpole and Allison Lampert
SEATTLE, Nov 4 (Reuters) -Boeing BA.N U.S. West Coast factory workers were voting on an improved contract offer on Monday that could end a seven-week strike and restart most jet production at the troubled planemaker.
Boeing's latest offer includes a 38% wage increase spread over four years, up from a 35% raise in a proposal that was rejected by around two-thirds of the 33,000 striking machinists in a vote 12 days ago.
Boeing's fourth offer since a strike started on Sept. 13 comes at a critical moment for the company, which last week announced a $24-billion share issue to shore up its finances after the strike halted production of its cash-cow 737 MAX jet. The company's shares rose 0.3% on Monday.
The International Association of Machinists and Aerospace Workers said on Sunday that workers can return to their shifts as early as Wednesday if the offer passes, or as late as Nov. 12.
Brandon Bryant, president of IAM District W24, which represents about 1,300 striking workers in Oregon, said the union had a long line of members waiting for polls to open.
“A lot of them that I’ve talked to today, they’re ready to get back to work," Bryant said in an interview. "They think this is a good contract, they think it’s positive, they think it’s a great step forward. It doesn’t correct all the errors of the past but it’s a great foundation. We’re looking forward to building on that.”
It is not clear how long it will take Boeing to get back to pre-strike production levels, although the strike is widely expected to delay to 2025 a year-end rate target of 38 jets per month.
While Boeing is not regularly disclosing monthly MAX production figures, CFO Brian West has previously said monthly output went from high single digits at the end of the first quarter to roughly 25 in June and July.
The 38% wage increase could add about $1.1 billion over the four-year contract to the workers' cost base of about $2.5 billion, according to a note from analyst Jefferies.
UNION ENDORSEMENT
The union's District 751 President Jon Holden, who is negotiating on behalf of most of the workers, has endorsed the latest contract and warned workers that if they reject the deal Boeing's next offer will be worse.
Voting ends at 7 p.m. U.S. Pacific Time (0300 GMT), with the result expected within hours.
Factory workers Reuters spoke to are divided on the latest contract, with some saying they are ready to return to work while others are willing to hold out for more benefits and the 40% wage increase they originally demanded.
A positive vote would offer some respite for Boeing CEO Kelly Ortberg who took over the company in August on a promise to mend relations with factory workers and bring about a "fundamental culture change" at the company.
Boeing has been lurching from crisis to crisis since January when the door panel blew off a near-new 737 MAX plane in midair, leading to the departure of Ortberg's predecessor, Dave Calhoun.
Ending the stoppage, which has also halted production of Boeing's 767 and 777 widebody planes, would also benefit aerospace suppliers that have been furloughing workers, as well as airlines facing aircraft-delivery delays.
Boeing's latest offer eclipses recent pay gains by both the United Auto Workers in 2023 and IAM-unionized Airbus A220 factory workers this year. Many Boeing workers say it does not make up for a decade during which their wages lagged inflation and the loss of a defined-salary pension.
The union has said its members earned just four 1% wage increases over the last eight years.
"You have to have a second hustle in order to make it," said machine operator Jeffrey Dodge, who has a side business growing mushrooms and selling tincture plant extracts.
Dodge, who is voting to reject the deal, said other workers near the Seattle-area Renton plant where he helps make 737 wings are also taking second jobs to cover basics.
Boeing has said the average annual machinists' pay at the end of the four-year contract would be $119,309, up from $75,608 in the previous contract.
That raise is enough for some workers who are beginning to feel the pinch.
"I will probably say 'yes'," said Ian Hill, 29, who says he only makes enough money to live in a shared flat in a rough neighborhood where he sometimes hears gunshots at night.
"We should approve it, and in four years, try to get better."
Reporting By Dan Catchpole in Seattle and Allison Lampert in Montreal; Writing by Joe Brock; Editing by Sandra Maler and Rod Nickel
متعلقہ اثاثے
تازہ ترين خبريں
دستبرداری: XM Group کے ادارے ہماری آن لائن تجارت کی سہولت تک صرف عملدرآمد کی خدمت اور رسائی مہیا کرتے ہیں، کسی شخص کو ویب سائٹ پر یا اس کے ذریعے دستیاب کانٹینٹ کو دیکھنے اور/یا استعمال کرنے کی اجازت دیتا ہے، اس پر تبدیل یا توسیع کا ارادہ نہیں ہے ، اور نہ ہی یہ تبدیل ہوتا ہے یا اس پر وسعت کریں۔ اس طرح کی رسائی اور استعمال ہمیشہ مشروط ہوتا ہے: (i) شرائط و ضوابط؛ (ii) خطرہ انتباہات؛ اور (iii) مکمل دستبرداری۔ لہذا اس طرح کے مواد کو عام معلومات سے زیادہ کے طور پر فراہم کیا جاتا ہے۔ خاص طور پر، براہ کرم آگاہ رہیں کہ ہماری آن لائن تجارت کی سہولت کے مندرجات نہ تو کوئی درخواست ہے، اور نہ ہی فنانشل مارکیٹ میں کوئی لین دین داخل کرنے کی پیش کش ہے۔ کسی بھی فنانشل مارکیٹ میں تجارت میں آپ کے سرمائے کے لئے ایک خاص سطح کا خطرہ ہوتا ہے۔
ہماری آن لائن تجارتی سہولت پر شائع ہونے والے تمام مٹیریل کا مقصد صرف تعلیمی/معلوماتی مقاصد کے لئے ہے، اور اس میں شامل نہیں ہے — اور نہ ہی اسے فنانشل، سرمایہ کاری ٹیکس یا تجارتی مشورے اور سفارشات؛ یا ہماری تجارتی قیمتوں کا ریکارڈ؛ یا کسی بھی فنانشل انسٹرومنٹ میں لین دین کی پیشکش؛ یا اسکے لئے مانگ؛ یا غیر متنازعہ مالی تشہیرات پر مشتمل سمجھا جانا چاہئے۔
کوئی تھرڈ پارٹی کانٹینٹ، نیز XM کے ذریعہ تیار کردہ کانٹینٹ، جیسے: راۓ، خبریں، تحقیق، تجزیہ، قیمتیں اور دیگر معلومات یا اس ویب سائٹ پر مشتمل تھرڈ پارٹی کے سائٹس کے لنکس کو "جیسے ہے" کی بنیاد پر فراہم کیا جاتا ہے، عام مارکیٹ کی تفسیر کے طور پر، اور سرمایہ کاری کے مشورے کو تشکیل نہ دیں۔ اس حد تک کہ کسی بھی کانٹینٹ کو سرمایہ کاری کی تحقیقات کے طور پر سمجھا جاتا ہے، آپ کو نوٹ کرنا اور قبول کرنا ہوگا کہ یہ کانٹینٹ سرمایہ کاری کی تحقیق کی آزادی کو فروغ دینے کے لئے ڈیزائن کردہ قانونی تقاضوں کے مطابق نہیں ہے اور تیار نہیں کیا گیا ہے، اسی طرح، اس پر غور کیا جائے گا بطور متعلقہ قوانین اور ضوابط کے تحت مارکیٹنگ مواصلات۔ براہ کرم یقینی بنائیں کہ آپ غیر آزاد سرمایہ کاری سے متعلق ہماری اطلاع کو پڑھ اور سمجھ چکے ہیں۔ مذکورہ بالا معلومات کے بارے میں تحقیق اور رسک وارننگ ، جس تک رسائی یہاں حاصل کی جا سکتی ہے۔
