Boeing walkout ends as striking workers back 38% pay rise offer

Published On Nov 4, 2024, 11:53 PM

Boeing workers have ended a seven-week strike after ratifying a new contract that provides a 38% pay increase over the next four years and a one-time bonus of $12,000. The strike, initially started by over 30,000 workers, significantly impacted Boeing’s production and finances, leading to operating losses of $4 billion in the last quarter alone. The acceptance of the deal is seen as a victory by union leaders, although Boeing has been facing significant financial challenges and is attempting to stabilize its operations after the strike.