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Boeing Workers Approve New Contract, Ending Strike

Summary

Boeing workers have voted to approve a new contract, effectively ending a seven-week strike that significantly impacted production. The ratified agreement includes a 38% pay increase over four years, a $12,000 signing bonus, and enhanced retirement contributions, although it does not reinstate a defined-benefit pension that was frozen in 2014.

The strike, involving around 33,000 employees from the International Association of Machinists and Aerospace Workers (IAM), was primarily aimed at negotiating better pay and benefits amid Boeing’s ongoing financial struggles. The approved contract comes after two previous proposals were rejected, highlighting the workers’ leverage and unity during negotiations. This resolution is expected to allow workers to return to their jobs by midweek, as Boeing continues to recover from substantial losses and scrutiny over its safety record. The strike’s conclusion is seen as a pivotal moment for the union and its members, who demonstrated significant resolve in their demands for improved compensation and working conditions.

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