Boeing strike hit Day 99 on Monday. Company makes a new offer to St. Louis union workers
Published in Business News
ST. LOUIS — The Boeing Co. on Monday made a new offer to its striking St. Louis defense workers as the work stoppage reached its 99th day.
And later on Monday, the negotiating committee for the machinists' union said it was recommending passage of Boeing's latest offer.
A vote will be held on the offer between 8 a.m. and noon on Thursday at a union office in Bridgeton. If approved, workers would start to return to work on Sunday, the union said.
The latest offer includes a $6,000 ratification bonus, replacing a previous offer that contained $7,000 in total bonuses.
But that $7,000 included a $3,000 ratification bonus, $3,000 in Boeing stock vested over three years, and a $1,000 retention bonus in the fourth year of the contract.
Steve Parker, president and CEO of Boeing Defense, Space & Security, said in a letter to union members that company leaders had heard from many members "that you’d like more cash up front rather than Boeing stock."
Parker said that with the holidays approaching, Boeing wants to "get everyone back to work and provide stability for you and your families with higher wages, health care and guaranteed holiday pay."
He added the latest offer "stays within the economic value" of previous rejected offers.
The strike at Boeing’s St. Louis-area factories is the first since 1996, when workers at what was then homegrown McDonnell Douglas walked out for 99 days.
With the strike poised to surpass that mark, Parker said in the letter that if the latest offer is ratified, all union members would be returned to work.
"This is not something we will be able to guarantee moving forward," he said.
The latest offer also allows workers to cash out vacation time that can't be carried over and says service and sick leave anniversary dates won't change.
Parker said remaining provisions from past offers are the same, with average base wages growing from $75,000 to $109,000 over five years.
Boeing has offered a general wage increase of 24% over five years: 8% in the first year and 4% for the remaining four years for employees who have not reached top pay.
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