Transportation
Boeing Gains on Optimism That Lengthy Strike Is Nearing an End
- Tentative deal offers 38% raise, $12,000 ratification bonus
- Union for 33,000 machinists sets Nov. 4 vote on proposal
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Boeing Co.’s shares rose after union leaders endorsed the latest offer to boost wages, spurring optimism that the company could finally be close to ending a lengthy strike that’s crippling its jetliner manufacturing.
The planemaker’s fourth proposal for a four-year contract would raise pay by 38%, give hourly workers a $12,000 signing bonus upon ratification and boost contributions to retirement savings plans. It would not restore pensions, a point of contention for some veteran employees.