Boeing has increased its offer to striking union employees, calling it their 'best and final contract offer'. The new proposal includes a 30% wage increase over four years, a $6,000 ratification bonus, and reinstated performance bonuses. The company is trying to end the strike which has entered its second week.
Boeing has raised its offer to the tens of thousands of union employees on strike at the aerospace giant, in what the company referred to as its "best and final contract offer." In details posted to its website, Boeing 's latest proposal to the members of the International Association of Machinists and Aerospace Workers promises a 30% general wage increase over four years, along with a $6,000 ratification bonus for workers if they agree to it by Friday.
The union did not immediately respond to FOX Business' request for comment on Boeing's latest offer. Boeing has frozen hiring and started furloughs for thousands of U.S. employees to reduce costs. A prolonged strike could cost several billion dollars, fraying the planemaker's already strained finances and threatening a downgrade of its credit rating.
The strike, Boeing's first since 2008, is the latest event in a tumultuous year for the company that began with a January incident when a door panel detached from a new 737 MAX jet mid-air. Boeing has planned for workers to take one week of furlough every four weeks on a rolling basis for the duration of the strike.
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