By The Financial District
Boeing Defense Workers To Strike Over Pay Issues
A union representing nearly 2,500 employees at three Boeing Co. defense locations in the St. Louis, Missouri area said on Sunday, July 24, 2022, that the workers rejected the company's defense contract offer and will go on strike beginning Aug. 1, according to Reuters' David Shepardson and Jose Joseph.
Photo Insert: Boeing had offered a $3,000 ratification bonus if workers approved the three-year contract by Sunday, rather than an earlier proposal to make additional $1,000 annual contributions to workers' 401(k) plans.
"Boeing previously took away a pension from our members, and now the company is unwilling to adequately compensate our members' 401(k) plan," the International Association of Machinists and Aerospace Workers union stated in a statement. It went on to say that union employees will not accept a contract that is not fair and equitable.
"We will not allow this company to put our members’ hard-earned retirements in jeopardy," the union warned. The F-15, F-18, T-7A trainer, and MQ-25 unmanned refueler are built in three plants in Missouri and Illinois.
Boeing said it was "disappointed with Sunday's vote to reject a strong, highly competitive offer," and that the company was activating a contingency plan to support continuity of operations in the event of a strike.
Boeing had offered a $3,000 ratification bonus if workers approved the three-year contract by Sunday, rather than an earlier proposal to make additional $1,000 annual contributions to workers' 401(k) plans.
Boeing's 401(k) offer included a company match of workers contributions up to 10% of workers' salaries along with an automatic contribution of 2% for 2023 and 2024. The current contract is set to expire on Monday, July 25.
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