Striking Boeing workers to vote on 38% pay rise deal on Monday

Boeing workers on the West Coast will be voting on a new contract proposal on Monday, which offers a 38% salary boost over four years and an increased signing bonus. Over 30,000 factory employees, responsible for producing the popular 737 MAX and other aircraft, have been striking since September 13 after rejecting two prior proposals. The new offer includes a $12,000 ratification bonus and reinstates an annual bonus plan previously removed. The union is recommending acceptance of the offer. Workers have been seeking a 40% wage hike and the reintroduction of a defined-benefit pension plan eliminated a decade ago. Recently, 64% of workers dismissed a non-union-endorsed proposal for a 35% wage increase over four years. Boeing shares rose 2.5% in after-hours trade, having fallen 3.2% earlier in the day.