After being on strike Boeing machinists have voted to end their strike (59% in favor of). This comes after yesterday the Union even saying that this was the best they were going to get and future offers were likely to be worse. Key points for this are:
- a 38% raise over 4 years
- the contract also increases 401(k) contributions
- a signing bonus of up to $12,000 or a combination of a $7,000 bonus and $5,000 401(k) deposit
This will bring wages for the average machines to $119,309to help offset the cost of living in the Seattle area where Boeing makes so many of their planes.
This is the most expensive strike of the century in the United States, with an indirect impact of more than US$11.56 billion since September 13th.