Boeing and its largest union have reached an agreement on a new contract, averting a strike that could have disrupted aircraft production. The contract, if ratified, will see 33,000 workers represented by the International Association of Machinists and Aerospace Workers receive pay raises of 25% over four years, with average wages increasing by 33% due to seniority step increases. This is slightly below the 40% increase initially demanded by the union.
One of the key points of the agreement is Boeing's commitment to build its next plane in Washington state, likely by union members. In addition to the pay raises, workers will also receive $3,000 lump sum payments and a reduction in health care costs.
