About 33,000 workers will vote on the contract proposal on Wednesday, October 23, after a more than month-long work stoppage, which has halted production of models including its best-selling 737 MAX narrowbody jets.
The new contract proposal announced on Saturday includes a 35 percent pay hike over four years, a $7,000 ratification bonus, a reinstated incentive plan and enhanced contributions to workers' 401(k) retirement plans, including a one-time $5,000 contribution plus up to 12 percent in employer contributions.
Workers picketing on Monday, October 21, near Boeing's 737 factory outside Seattle were pessimistic about the proposal passing on.
The new wage increase and the ratification bonus are an improvement over the previous offer, which was rebuffed by the striking workers, but the salary hikes still fall short of a 40 percent pay rise over four years demanded by the Machinists' union.
REUTERS/NASA