Boeing Workers End 7-Week Strike After Accepting Pay Deal

Boeing workers have voted to accept the company’s latest pay proposal, bringing an end to a disruptive seven-week strike. The walkout, which began on 13 September, involved over 30,000 unionised employees and caused significant delays in production at the aerospace giant's facilities.

The International Association of Machinists and Aerospace Workers (IAM) announced that workers could begin returning to their jobs as early as Wednesday, with a full return expected by 12 November. The new contract promises a 38 per cent pay increase over the next four years, along with a one-time $12,000 bonus and improvements to retirement plans.

IAM leader Jon Holden hailed the agreement as a significant achievement, stating, "This is a victory. We can hold our heads high." The deal was approved by 59% of the striking workers after two previous offers were rejected. Initially, the union had sought a 40% wage increase.

Boeing CEO Kelly Ortberg expressed relief at the resolution, emphasising the need for unity moving forward. "While the past few months have been difficult for all of us, we are all part of the same team," he said. "There is much work ahead to return to the excellence that made Boeing an iconic company."

The strike, which has cost Boeing nearly $10 billion, attracted national attention, including intervention from Acting U.S. Labor Secretary Julie Su, who traveled to Seattle to facilitate negotiations. The prolonged industrial action came at a challenging time for Boeing, as it grapples with financial strains and reputational setbacks.

In October, Boeing’s commercial aircraft division reported a $4 billion operating loss for the third quarter. The firm also announced plans to lay off approximately 17,000 workers, with redundancy notices expected by mid-November. In an effort to stabilize its finances, Boeing launched a share sale aiming to raise more than $20 billion, amid concerns about potential credit rating downgrades.