Boeing has increased its offer to the International Association of Machinists (IAM) union as the strike against the company continues into its 11th day. The new offer includes a 30% raise over the four-year contract term, with an immediate 12% raise. This is an improvement from the previous offer of 25% in overall raises and an immediate 11% raise that was rejected by union members before the strike.
Boeing doubled the signing bonus to $6,000 and enhanced its contribution to 401(k) plans to match employee contributions. However, the traditional pension plan lost by union members a decade ago was not reinstated.
