Overview

• The seven-week strike concluded with a 59% approval of a new contract by Boeing workers, granting a 38% pay increase over four years.
• Despite achieving major salary gains, workers did not succeed in reinstating the guaranteed pension system, which remains based on market-dependent plans.
• The strike, one of the most expensive in recent U.S. history, cost Boeing and its suppliers over $11 billion due to halted production.
• The agreement includes a $12,000 ratification bonus and a 4% annual salary bonus, while Boeing commits to future aircraft production in Seattle.
• President Joe Biden praised the agreement, highlighting it as a testament to effective collective bargaining and its benefits to the economy.