Boeing machinists voted to end a 53-day strike, agreeing to a new contract to get them back to work.
The new contract includes a 38 percent wage increase over the next four years and a $12,000 ratification bonus for the workers.
The big picture: The average machinist’s salary is expected to increase to $119,309 per year by the end of the four years, up significantly from the previous average of $75,608.
- The strike had caused a financial strain on the company and impeded production at facilities around Seattle and Portland.
- The strike concluded after the members of the International Association of Machinists and Aerospace Workers approved the third proposal brought to them for a vote.
- This deal did not reinstate defined-benefit pension plans demanded by workers but was accepted to preserve leverage for future negotiations.
