More than 33,000 Boeing workers reached a tentative agreement Monday night to end a weekslong strike that quickly became one of the costliest strikes in recent history—estimated to have cost the US economy more than $9.6 billion.
Through their unions, International Association of Machinists and Aerospace Workers (IAM) Districts 751 and W24, workers in Washington state, Oregon, and California had previously rejected two inadequate Boeing offers while the company lost hundreds of millions daily. Negotiations had stalled until US Secretary of Labor Julie Su stepped in, IAM said in a press release, helping to restart talks and get to a deal that 59 percent of workers could agree on.
Under the proposed deal, workers will receive a 43 percent wage increase over four years, as well as a $12,000 bonus they can choose to receive in their paycheck, as a 401(k) contribution, or a combination of both. Additionally, Boeing agreed to match 401(k) contributions up to 8 percent.
love the framing of a worker action “costing” the economy money. ever since a citations ep pointed out how it’s always worker actions that “cost” or “damage” a “fragile” economy, … while just rolling over and accepting declining wages as inflation ramps up is always accompanied with endless editorializing of the economy being “strong”. because it’s obviously fucked, so the mouthpieces must inform us all that it’s great and powerful.
any objective view of fundamental numbers show that any reduction in economic activity during worker action is immediately corrected after the action ends and generally results in remarkable improvement because workers are the economy. the powerful parasitic shitwads at the top diverting value into stock buybacks, policy capture, overshore accounts, and various speculative financial schemes are the fucking blackhole that fucks the economy.
Episode 191: How the Media’s Use of ‘The Economy’ Flattens Class Conflict, I was just listening to it this morning, some good timing.
Time for them to go back to work and forget about the labor movement for another decade
It’s a shame they didn’t budge on the pension, that was one of the major demands.
Boeing agreed to match 401(k) contributions up to 8 percent.
Nothing sinister about indirectly “gifting” stocks in your own company
I’m fairly certain that’s not how 401Ks work lol, though of course I wouldn’t put it past boeing to try something like it
It’s not uncommon for companies to make their own stock or some variant of it (like “no interest but the amount is adjusted for inflation, but owned by the company”) the default 401k investment option and most people don’t bother to change the default
damn guess I’ve just never worked at a place sufficiently large/shitty to do that
That’s what Enron did lol
If it’s like us, it’s the IAM fund managed through John Hancock.
So did they get labor conditions changes? or just more money and getting fired special? (according to wsws they didn’t, but they are very negative around union bureaucracy)
Mostly more money, and a reduction in mandatory overtime requirements. What the media probably won’t report on is the ~2,000 layoffs that are going to occur with the Union returning. They’re still proceeding with the ~17,000 layoffs in the BCA business unit as well
Are these plane Boeing workers or munition Boeing workers?
Plane builders, passenger jets, 737Max, etc
Those planes include military logistics support as well, for the record. Example: P-8 Poseidon.
That is true, the ones based off existing civilian planes, the majority won’t have any involvement with that though outside of making the base model that BDS then converts
Timing is interesting. Have to wonder if the union saw the chance of Trump winning and decided it wasn’t worth the risk given it would strengthen Boeing’s position if he did and Kamala wasn’t going to do much for their position if she won.
