Boeing Strike Ends After 53 Days

Following leadership endorsement, the machinists' union approves a new contract with aerospace giant.

Caleb Revill

Tuesday, November 05, 2024 at 08:53 AM ET

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Edited By: davidmcdonald

Boeing 737 Max 10 [Credit: AirlineGeeks/William Derrickson]

Key Takeaways:

International Association of Machinists and Aerospace Workers (IAM) union members approved a new contract with Boeing, ending a 53-day strike.
The contract, approved by 59% of over 26,000 members, secures a 38% (43% compounded) pay raise over four years.
Key benefits of the new agreement include a $12,000 ratification bonus and significant improvements to 401(k) contributions and the Boeing Company Employment Retirement Plan (BCERP).
The approval averts further economic losses for Boeing, which had already suffered substantial impacts from the strike, and allows members to return to work by November 12.

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International Association of Machinists and Aerospace Workers (IAM) union members voted to approve a new contract with Boeing Monday, putting an end to a lengthy strike in the Pacific Northwest.

Over 26,0000 members across IAM Districts 751 and W24 located respectively in Seattle and Gladstone, Oregon, voted 59 percent to approve a 38 percent pay raise. IAM District 751 streamed the voting results live on its Facebook page.