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Boeing CDR (CAD Hedged)
Symbol BA
Shares Issued 1,050,000
Close 2024-10-18 C$ 26.93
Market Cap C$ 28,276,500
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Globe/wire say Boeing machinists to vote on new offer

2024-10-21 09:23 ET - In the News

The Globe and Mail reports in its Monday edition that striking machinists at Boeing will vote Wednesday on a new contract proposal that includes a 35-per-cent pay increase over four years that could end the five-week-old strike. A Reuters dispatch to The Globe says that 33,000 of Boeing's unionized West Coast workers, most in Washington State, have been on strike since Sept. 13. Boeing on Oct. 8 withdrew an enhanced offer. The work stoppage has halted production of the plane maker's best-selling 737 Max and its 767 and 777 wide-bodies, putting added pressure on the company's already fragile finances. The latest offer includes a $7,000 ratification bonus, reinstated incentive plan and higher contributions to workers' 401k retirement plans, including a one-time $5,000 contribution plus up to 12 per cent in employer contributions. There is no guarantee workers will approve the offer after they overwhelmingly rejected an initial proposal. The U.S. Chamber of Commerce pleaded on social-media site X for the two sides to reach an agreement that would put an end to the stoppage, which is rippling through the industry. Two senior union officials in Seattle told Reuters they believed the members would vote in favour of the deal.

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