Boeing defense workers ratify revised contract offer
2022.08.03 21:18
FILE PHOTO: The Boeing logo is seen at their headquarters in Chicago, in this April 24, 2013 photo. REUTERS/Jim Young/File Photo
WASHINGTON (Reuters) – A union representing nearly 2,500 workers at three Boeing (NYSE:BA) defense locations in the St. Louis area voted to accept a revised three-year contract offer from Boeing Co .
The International Association of Machinists and Aerospace Workers (IAM) union said the new contract includes an $8,000 lump sum payment that can be deferred to an employee’s 401(k), and continuing the 4% company contribution and 75% match on the first 8% of an employee’s 401(k) contribution.
It also includes an average of a 14% general wage increase over three years, in addition to cost-of-living adjustments. The union had been set to go on strike on Aug. 1 before Boeing made a revised offer.
