Boeing boosts wage offer to 33,000 striking workers with a 38% raise over four years and a $12,000 bonus, aiming to end a seven-week strike that has stalled key aircraft production.
Boeing’s stock rose 2% on Friday as it raised its wage offer to about 33,000 striking workers, hoping to resolve a seven-week strike that halted production of its 737 MAX, 767, and 777 jets.
The updated offer includes a 38% wage increase over four years and a $12,000 signing bonus, though it still lacks the defined-benefit pension workers have demanded.
Workers can choose to place $5,000 of the bonus into a 401(k) or take it as cash, and they can potentially direct up to 20% of their salary to retirement accounts. Analysts say this could sway some pension advocates.
So far, workers have lost around $10,400 in wages, surpassing the average first-year raise offered.
Despite the Machinists union’s support, worker opinion remains mixed. Since the strike began in September, Boeing’s shares have fallen 8.3%, and analysts are monitoring social media to gauge sentiment.
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