SEATTLE, Nov 4 (Reuters) – Boeing (BA.N), opens new tab U.S. West Coast factory workers will hold a vote on an improved contract offer on Monday that could end a seven-week strike and restart jet production at the troubled planemaker.
Boeing’s latest offer includes a 38% wage increase spread over four years, up slightly 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 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.
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Article URL : https://www.reuters.com/business/aerospace-defense/boeing-workers-vote-wage-deal-that-could-end-strike-2024-11-04/