Boeing machinists are holding a contract vote that could end their 7-week strike

Unionized mill workers astatine Boeing are voting Monday whether to judge a statement offer aliases to continue their strike, which has lasted much than 7 weeks and unopen down accumulation of astir Boeing rider planes.

A ballot to ratify nan statement would clear nan measurement for nan aerospace elephantine to resume airplane accumulation and bring successful much-needed cash. If members of nan International Association of Machinists and Aerospace Workers ballot for a 3rd clip to cull Boeing's offer, it would plunge nan institution into further financial peril and uncertainty.

In its latest projected contract, Boeing is offering salary raises of 38% complete 4 years, arsenic good arsenic ratification and productivity bonuses. IAM District 751, which represents Boeing workers successful nan Pacific Northwest, endorsed nan proposal, which is slightly much generous than 1 nan machinists voted down astir 2 weeks ago.

“It is clip for our members to fastener successful these gains and confidently state victory," nan national territory said successful scheduling Monday's vote. "We judge asking members to enactment connected onslaught longer wouldn’t beryllium correct arsenic we person achieved truthful overmuch success.”

Union officials said they deliberation they person gotten each they tin though negotiations and a strike, and that if nan existent connection is rejected, early offers from Boeing mightiness beryllium worse. They expect to denote nan consequence of nan ballot Monday night.

Boeing has adamantly rejected requests to reconstruct accepted pensions that nan institution froze astir a decade ago. Pensions were a cardinal issue for workers who voted down erstwhile offers successful September and October.

If machinists ratify nan latest offer, they would return to activity by Nov. 12, according to nan union.

The onslaught began Sept. 13 pinch an overwhelming 94.6% rejection of Boeing's connection to raise salary by 25% complete 4 years — acold little than nan union’s original request for 40% costs increases complete 3 years.

Machinists voted down different connection — 35% raises complete 4 years, but still nary revival of pensions — connected Oct. 23, nan aforesaid time Boeing reported a third-quarter loss of much than $6 billion. However, nan connection received 36% support, up from 5% for nan mid-September proposal, making Boeing leaders judge they were adjacent to a deal.

Boeing says mean yearly salary for machinists is $75,608 and would emergence to $119,309 successful 4 years nether nan existent offer.

In summation to a somewhat larger salary increases, nan projected statement includes a $12,000 statement ratification bonus, up from $7,000 successful nan erstwhile offer, and larger institution contributions to employees’ 401(k) status accounts.

Boeing besides promises to build its adjacent hose level successful nan Seattle area. Union officials fearfulness nan institution whitethorn retreat nan promise if workers cull nan caller offer.

The onslaught drew nan attraction of nan Biden administration. Acting Labor Secretary Julie Su intervened successful nan talks respective times, including past week.

The labor standoff — nan first onslaught by Boeing machinists since an eight-week walkout successful 2008 — is nan latest setback successful a volatile twelvemonth for the company.

Boeing came nether respective federal investigations aft a doorway plug blew disconnected a 737 Max plane during an Alaska Airlines formation successful January. Federal regulators put limits connected Boeing airplane accumulation that they said would past until they felt assured astir manufacturing safety astatine nan company.

The doorway plug incident renewed concerns astir nan information of nan 737 Max. Two of nan plane's collapsed little than 5 months isolated successful 2018 and 2019, sidesplitting 346 people. The CEO whose effort to hole nan institution grounded announced successful March that he would measurement down. In July, Boeing agreed to plead blameworthy to conspiracy to perpetrate fraud for deceiving regulators who approved nan 737 Max.

As nan onslaught dragged on, caller CEO Kelly Ortberg announced about 17,000 layoffs and a stock sale to forestall nan company’s in installments standing from being trim to junk status. S&P and Fitch Ratings said past week that nan $24.3 cardinal successful banal and different securities will screen upcoming indebtedness payments and trim nan consequence of a in installments downgrade.

The onslaught has created a rate crunch by depriving Boeing of money it gets erstwhile delivering caller planes to airlines. The walkout astatine Seattle-area factories stopped accumulation of the 737 Max, Boeing’s best-selling plane, and nan 777 aliases “triple-seven” pitchy and nan cargo-carrying type of its 767 plane.

Ortberg has conceded that spot successful Boeing has declined, nan institution has excessively overmuch debt, and “serious lapses successful our performance” person disappointed galore hose customers. But, he says, nan company’s strengths see a backlog of airplane orders weighted astatine a half-trillion dollars.