Boeing reaches tentative deal with striking machinists

10/28/2008 |

The negotiating committee for 27,000 striking Boeing Co. machinists has unanimously endorsed a new contract that would end the 53-day walkout. Early reports indicated that workers would receive a 15% pay hike over four years plus bonuses of $8,000 or more over three years. The two sides were said to compromise on job security, the issue seen as the main stumbling block in previous offers. "Boeing is profitable because of our members' hard work, and by standing together our members ensured they receive a bigger share of those profits," said a union official. Boeing said its offer was "outstanding," but stressed that the company had "retained the flexibility necessary to manage its business."

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