Boeing Stock News

On the eve of the nation's Presidential election, another important contest also marked by highly divided camps, came to resolution. Fifty nine percent of the members of the International Association of Machinists District 751 voted to accept Boeing's latest offer of a 38 percent wage increase along with other concessions, and return to work.

Union workers approved a 38% wage hike after reaching a deal with Boeing, ending a nearly two-month strike. The post Boeing Strike Ends, Work Set To Resume appeared first on Investor's Business Daily.

Boeing's (BA) shares are rising in premarket trading Tuesday, after the machinists union voted to approve a third contract agreement, ending a crippling strike at the plane maker that has lasted nearly two months.

After a 53-day strike that halted Boeing Co.'s jetliner production, employees represented by the International Association of Machinists and Aerospace Workers (IAM) voted to accept a new labor contract.

Boeing Co (NYSE:BA, ETR:BCO) workers have voted to accept the company's latest pay proposal, concluding a seven-week strike that began on September 13 and disrupted production. The new contract grants a 38% pay increase over four years, along with a one-time bonus of $12,000 and improvements to retirement benefits.

The accepted labor agreement will raise average machinist wages from roughly $76,000 to $119,000 a year by 2028, according to the company.

Boeing's striking factory workers voted to accept the company's revised contract offer—promising a larger wage increase and bonus payments—and end a seven-week-long work stoppage, setting the stage for the crisis-ridden company to restart production lines for its key aircraft.

Unionized machinists at Boeing voted Monday to accept a contract offer and end their strike after more than seven weeks, clearing the way for the aerospace giant to resume production of its bestselling airliner and generate much-needed cash.