Thousands of Boeing employees will continue to strike after union members rejected the new labor deal offered by the company Wednesday, Oct. 23. Members of the International Association of Machinists voted 64% against the deal.
Day 41 – Strike Update
— IAM Union District 751 (@IAM751) October 24, 2024
October 23, 2024
Tonight, IAM District 751 and W2 Members voted by 64% to reject the company's latest offer and continue the current strike. Here are the remarks IAM District 751 President Jon Holden gave during the announcement.
"This contract struggle… pic.twitter.com/3FdXnrS7iy
That deal would have seen wages go up by 35% over four years, with an immediate 12 % raise.
Before Wednesday’s vote, Boeing warned it would continue to burn cash through 2025 and reported a $6 billion quarterly loss — its largest since 2020. The strike, which began on Sept. 13, is costing the company about $1 billion a month.
The biggest sticking point for union members is the lack of a traditional pension plan.
In 2014, union members narrowly voted to give up the pension after the company threatened to build the 737 Max and 777X planes at non-union facilities. It’s a move many members still resent a decade later.
“Well, they get their pension, don’t they? CEOs get $100 million with the stock options when they retire,” said Boeing employee Charles Fromong. “It’s costing them billions a month. It’s costing me thousands. How do you like it? You’ve been costing me thousands for ten years. No wage increases, 1% COLAS, one cent, you know, and then working two weekends, three weekends straight. No life balance. I feel sorry for the young people. I’ve spent my life here and I’m getting ready to go. But they deserve a pension, and I deserve an increase.”
Boeing’s new CEO Kelly Ortberg has said reaching a deal with machinists is a priority to get the company back on track after years of safety and quality problems. Earlier this month, he announced Boeing will cut 10% of its global workforce, which is about 17,000 jobs.
