Boeing workers represented by the machinist union are set to vote on Monday on an improved contract offering a 38% pay rise over four years and a $12,000 signing bonus. The IAM endorsed the deal, stating that negotiations had reached their limit after a seven-week strike, which disrupted Boeing’s cash flow and halted production. Some members remain skeptical, particularly over the lack of a defined-benefit pension. Boeing shares rose over 2% in after-hours trading.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Boeing workers represented by the machinist union are set to vote on Monday on an improved
00:07contract offering a 38% pay raise over four years and a $12,000 signing bonus.
00:13The IAM endorsed the deal stating that negotiations had reached their limit after a seven-week
00:17strike which disrupted Boeing's cash flow and halted production.
00:22Some members remain skeptical, particularly over the lack of a defined benefit pension.
00:27Boeing shares rose over 2% in after-hours trade-in.