Boeing raised its offer to striking factory workers Monday as it seeks to end the work stoppage that has largely brought production to a halt for more than a week.
The proposal, which the company described as its “best and final” offer to the International Association of Machinists and Aerospace Workers (IAM) union, would raise wages, restore annual bonuses and increase retirement benefits for workers.
“This offer recognizes the contributions our employees make to the Company’s success and future,” Mike Fitzsimmons, Boeing’s vice president of labor relations, wrote in a letter to union leaders.
“We request that you submit this offer to your membership for a vote as soon as possible to bring an end to the current strike and allow our employees to return to work and refocus together on the future and the Company’s recovery,” he added.
The offer proposes a general wage increase of 30 percent over four years, up from Boeing’s previous offer of 25 percent. Workers would see a 12 percent raise immediately, followed by 6 percent raises for each of the following three years of the contract.
It would also raise the ratification bonus from $3,000 to $6,000 and increase the company’s 401(k) match from 75 percent to 100 percent of the first 8 percent that employees put away in the retirement fund. The union has until Friday at midnight to ratify the contract.
Some 33,000 Boeing workers went on strike earlier this month after an overwhelming majority voted to reject the company’s previous proposal.
The strike has put additional strain on the aerospace giant, which was already facing heavy scrutiny after the door plug of a Boeing plane blew out during an Alaska Airlines flight in January.