Boeing Proposes 35% Wage Hike in New Bid to End Lengthy Strike
- Ratification vote set for Oct. 23 would end five-week strike
- Company, union struck deal after labor secretary intervened
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Boeing Co. and the union representing 33,000 striking workers reached a tentative agreement on a new contract with help from the White House, underscoring the high stakes to end a work stoppage that has crippled one of the largest US exporters.
The proposal hammered out overnight in Seattle includes a wage increase of 35% spread over four years, a guaranteed annual bonus of at least 4% and an additional $7,000 bonus if workers approve the contract, IAM District 751 said in a statement on its website Saturday. A ratification vote is set for Oct. 23.