All articles tagged with #iam union
The IAM Union has filed an unfair labor practice charge against Boeing for refusing to negotiate in good faith during an ongoing strike involving over 3,200 members, which is delaying critical U.S. Air Force aircraft deliveries and highlighting tensions over fair treatment and contract negotiations.
The International Association of Machinists and Aerospace Workers (IAM) union members at Boeing have ratified a new contract, achieving a 43.65% compounded wage increase over four years. This agreement, facilitated by U.S. Secretary of Labor Julie Su, follows a two-month strike and sets a new standard for the aerospace industry. The contract includes a $12,000 ratification bonus, improved retirement contributions, and enhanced job security provisions, marking a significant victory for the 33,000 frontline workers involved.
Boeing CEO Kelly Ortberg has issued an ultimatum to the Machinists Union, warning that if members reject the current contract offer, future proposals may be less favorable. The offer includes a 38% wage increase over four years, and the union's bargaining committee has recommended acceptance to end a costly 54-day strike. The strike has already cost Boeing $1.4 billion and significantly impacted its financial results, with a third-quarter loss of over $6 billion. A vote on the contract is scheduled for November 4, 2024.