By (Reuters) – Here is a side-by-side comparison of the key elements of three Boeing (NYSE:BA) contract deals for U.S. West Coast factory workers that have gone to votes since September, according to details provided by the company and the union.
The latest offer was approved by union members on Monday, ending a seven-week strike.
OFFER APPROVED BY 59% OF WORKERS ON NOV. 4
Endorsed by union
Duration: Four years
General wage increase of 38%
$12,000 signing bonus
Restoration of annual performance bonus valued at up to 6% with annual guaranteed payoff of 4%
Retirement: Boeing 401(k) retirement plan match increased to 100% of first 8% of pay, plus automatic 4% company contribution
Pledge to build Boeing’s next commercial jet in the Seattle area, provided the program is launched within the four years of the contract.
OFFER REJECTED BY 64% OF WORKERS ON OCT. 23
Not endorsed by union
Duration: Four years
General wage increase of 35%
$7,000 signing bonus
Restoration of an annual performance bonus
Retirement: Boeing 401(k) retirement plan match increased to 100% of first 8% of pay, plus automatic 4% company contribution
Pledge to build Boeing’s next commercial jet in the Seattle area, provided the program is launched within the four years of the contract.
OFFER REJECTED BY NEARLY 95% OF WORKERS ON SEPT. 12
Endorsed by union
Duration: Four years
General wage increase of 25%
$3,000 signing bonus
Removal of an annual performance bonus
Retirement: Boeing 401(k) retirement plan match is 75% of the first 8% an employee contributes, plus automatic 4% company contribution.
Pledge to build Boeing’s next commercial jet in the Seattle area, provided the program is launched within the four years of the contract.