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The Society of Professional Engineering Employees in Aerospace (SPEEA), representing the engineers and technical staff of the company, had been engaged in negotiations for a new contract with management for several months. According to The Wall Street Journal, the deal was voted on by most of the union's roughly 17,000 members in the past week.
On October 1, SPEEA revealed that roughly 68% of the 13,000 engineers and scientists within the union supported the agreement. Among technical employees, the new agreement received approval from 53% of those who voted.
Boeing's CEO Kelly Ortberg highlighted the significance of the union's choice during an investor conference in September, cautioning that any strike would negatively affect the company's operations.
"Should a strike occur, the Boeing 777 aircraft certification program would essentially pause until the engineers resumed work," he noted, adding that aircraft manufacturing would likewise be impacted.
The newest proposal from the company featured a 34% wage hike over four years, which was backed by union leaders. Consequently, Boeing engineers will see their average base salary increase to around $208,000 annually, while technical employees will earn about $163,000.Starting in 2026, Boeing’s market value has decreased by 11.4%.
source: cnn.com
On October 1, SPEEA revealed that roughly 68% of the 13,000 engineers and scientists within the union supported the agreement. Among technical employees, the new agreement received approval from 53% of those who voted.
Boeing's CEO Kelly Ortberg highlighted the significance of the union's choice during an investor conference in September, cautioning that any strike would negatively affect the company's operations.
"Should a strike occur, the Boeing 777 aircraft certification program would essentially pause until the engineers resumed work," he noted, adding that aircraft manufacturing would likewise be impacted.
The newest proposal from the company featured a 34% wage hike over four years, which was backed by union leaders. Consequently, Boeing engineers will see their average base salary increase to around $208,000 annually, while technical employees will earn about $163,000.Starting in 2026, Boeing’s market value has decreased by 11.4%.
source: cnn.com