Boeing Strike Ends with New Union Contract

Boeing's factory workers, represented by the International Association of Machinists and Aerospace Workers, have voted to accept a new contract offer, ending a seven-week strike that significantly impacted the company's operations and cost the U.S. economy billions. The new contract includes a 43.65% wage increase over four years and a $12,000 bonus, although it does not restore the previously frozen pension plan, which was a key demand. The strike, which began in mid-September, stalled production and deliveries of Boeing's key aircraft models, contributing to the company's financial strain. CEO Kelly Ortberg expressed relief at the resolution, emphasizing the need to return to production excellence. The deal highlights the growing power of labor unions in securing better compensation for workers, as noted by President Joe Biden, who praised the outcome as a victory for collective bargaining. With the strike resolved, Boeing aims to resume operations by November 12 and address the backlog in production and delivery schedules.