Striking Boeing workers accepted a new draft social agreement on Monday afternoon, November 4. After rejecting two offers, the IAM-District 751, a subsidiary of the machinists’ union (IAM), claimed to have approved by 59% the agreement that provided for a salary increase very close to its demands, but not the reestablishment of the old retirement regime. .
The agreement ends a more than seven-week strike, which cost the company and its suppliers more than $10 billion, and provides respite for Boeing’s new CEO, Kelly Ortberg. Workers assigned to the production of Boeing’s flagship aircraft, the 737 MAX, as well as the 767 and 777, have been on strike since September 13, demanding a 40% wage increase and the restoration of a pension program long abolished. ten years.
“We can hold our heads high.”declared the union’s chief negotiator, Jon Holden, greeting members at the end of the vote, a “victory”.
Several weeks to restart production
It should now take several weeks to completely restart production lines, in a delicate context for Boeing. The union said workers could resume work on Wednesday and everyone would return to work no later than Nov. 12. Boeing, however, warned in advance that some employees will have to be retrained due to the passage of time during the strike.
According to analysts, the strike cost Boeing about $100 million a day in lost revenue. The situation pushed the group to carry out a major fundraising among investors last week.
