DO THEY HAVE A DEAL?:
Boeing reached a tentative agreement with workers at the International Association of Machinists and Aerospace Workers on Saturday, a move that could end to a strike that has lasted over a month and worsened the planemaker’s financial woes. The deal would increase workers’ pay by roughly 35 percent over four years, and IAM has told its workers to consider the proposed contract without recommending that they accept or reject it,
The Seattle Times reported. “This proposal will be carefully reviewed and voted upon by the frontline workers of Boeing whose dedication to their communities and families have made this company successful in the past,” IAM District 751 President Jon Holden and IAM District W24 President Brandon Bryant said in a statement.
The deal also includes an increase in the company’s contributions to workers’ 401(k) retirement plans. However, what’s not included is a restoration of the union’s defined-benefit pension plan, a key provision workers had requested. IAM members will vote on the deal on Wednesday.
A ratified deal would mark a key win for acting Labor Secretary Julie Su, who has crisscrossed the country in recent weeks working to diffuse high-profile strikes that were political landmines for President Joe Biden and Vice President Kamala Harris — and posed a threat to the U.S. economy ahead of the holiday season. Tapped by Biden amid her work in resolving a strike at West Coast ports
, Su has allowed the administration to continue touting its support for organized labor without being forced to take controversial measures to shield the economy, like using the Taft-Hartley Act to call dockworkers back to work like some businesses had hoped. The Labor Department did not respond to Shift’s request for comment. GOOD MORNING.
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