Factory workers at Boeing voted to accept a contract offer and end their strike after more than seven weeks, clearing the way for the aerospace giant to resume production of its bestselling airliner and generate much-needed cash.
Leaders of the International Association of Machinists and Aerospace Workers district in Seattle said 59% of members who cast ballots agreed to approve the company’s fourth formal offer and the third put to a vote. The deal includes a 38% wage increase over four years, and ratification and productivity bonuses.
However, Boeing refused to meet strikers’ demand to restore a company pension plan that was frozen nearly a decade ago.
The contract’s ratification on the eve of Election Day cleared the way for a major U.S. manufacturer and government contractor to restart Pacific Northwest assembly lines that the walkout idled for 53 days.
RELATED STORY | Boeing will lay off 10% of its employees as a strike by factory workers cripples airplane production
Bank of America analysts estimated last month that Boeing was losing about $50 million a day during the now-ended strike, which did not affect a nonunion plant in South Carolina where the company makes 787s.