Boeing And IAM Union Reach Tentative Agreement

(RTTNews) - Boeing Co. (BA) announced Sunday that it has reached a tentative agreement with IAM Districts 751 & W24, which represent more than 33,000 Boeing employees.

The agreement includes a 25% raise over four years, along with improvements to health-care costs and retirement benefits. It also provides increased job security for union members, including a commitment to build the next new airplane at one of the union-represented plants in the Puget Sound region.

Boeing noted that if the tentative agreement is ratified by September 12, 2024, employees will receive a one-time $3,000 lump sum payment.

The agreement is set to expire at midnight on September 12, and a strike could have started immediately if no deal was reached. The union had been advocating for raises of more than 40%.