Boeing’s strike ends after machinists approve new labor contract with 38% wage increases

Boeing machinists approved a new labor deal after more than seven weeks on strike. The new contract includes a 38% wage increase over four years and other improvements. President Biden congratulated both the union and the company on reaching the deal. This approval is a relief for Boeing’s new CEO, Kelly Ortberg. The machinists, who build planes like the 737 Max and 777, must return to work by November 12. The contract also includes increased 401(k) contributions and a signing bonus. Workers had been concerned about the high cost of living in the Seattle area where most of Boeing’s aircraft are produced. The union had warned that the latest deal might be the best they could get.