(SEATTLE, WASHINGTON) – Thirty-three-thousand Front Line Workers at Boeing, Members of International Association of Machinists and Aerospace Workers (IAM) Districts 751 and W24, have voted to ratify a new Union contract with the company that has instantly set a new standard for compensation and wages for Aerospace Industry Workers. 

The deal followed a vigorous Strike lasting nearly two months by the Workers in Washington State, Oregon and California that made international headlines and drew widespread public support and bipartisan political support. 

The new contract includes a 43.65% compounded wage increase - 38% before compounding - over the four-year life of the contract.

In recent weeks, Acting U.S. Secretary of Labor Julie Su worked on behalf of the Biden-Harris Administration to help restart and reach a positive resolution to negotiations that had previously stalled.

Jon Holden, President of IAM District 751, and Brandon Bryant, President of IAM District W24, issued the following joint statement, that read in part, following the votes being tallied: “Working People know what it’s like when a company overreaches and takes away more than is fair.  Through this Strike and the resulting victory, Front Line Workers at Boeing have done their part to begin rebalancing the scales in favor of the Middle Class - and in doing so, we hope to inspire other Workers in our industry and beyond to continue standing up for justice at work.  Through this victory and the Strike that made it possible, IAM Members have taken a stand for respect and fair wages in the workplace.  Our Members perform high quality and flight critical work for the airplanes we build and deserve a return on their labor investment that provides for the quality-of-life worthy of that labor.  This contract also creates a new foundation to build on for the future and (we) are ready to help Boeing change direction and return to building the highest quality and safest airplanes in the world.  Our Members are critical to that mission and now have a stronger voice in the decision-making process to ensure those needed improvements are made.  ‘There is no Boeing without the IAM’ has been our battle cry, and we are ready, again, to do our part to bring this company back to the standard that it never should have strayed from.”

Highlights of the agreement include: A 38% general wage increase over four years - 13%, 9%, 9%, 7% which compounds to 43.65% over the life of the agreement; A $12,000 Ratification Bonus: The ratification bonus combines the previous $7,000 ratification bonus and the $5,000 lump sum into the 401(k).  Now, Union Members can choose how this total amount is received - in their paycheck, contribution to 401(k) or a combination of both; The AMPP Incentive Plan is reinstated, with a guaranteed minimum annual payout of 4%, including 2024 payout in February 2025; A 401(k) employer match of 100% up to 8%; A special company retirement contribution of 4% into 401(k) maintained; A $105 pension multiplier per year for those vested in the pension plan; A call-in language back to current contract; A new long-term disability plan and big improvement to short term disability plan; Health care cost containment; Improved overtime rules; Key job security provisions; and Increased Minimum Rates that now increase with Cost-Of-Living-Adjustment (COLA)increases. 

To Read This Labor News Report In Its Entirety, Go To: IAM Union Workers At Boeing Achieve Contract Victory to Set New Standards For Aerospace Industry - IAMAW (goiam.org)