US President welcomes Boeing and IAM agreement
US President Joe Biden welcomed (05-Nov-2024) the agreement reached between Boeing and the International Association of Machinists (IAM). President Biden stated: "This contract provides a 38% wage increase over four years, improves workers' ability to retire with dignity, and supports fairness at the workplace". He added the contract is "important for Boeing's future as a critical part of America's aerospace sector". [more - original PR]
Background ✨
Boeing and the International Association of Machinists and Aerospace Workers District 751 have been engaged in extensive negotiations, with IAM members going on strike from 13-Sep-2024 following disagreements over contract terms1 2. The IAM endorsed Boeing's new contract proposal, with a vote scheduled for 04-Nov-20243. Previous proposals included significant wage increases and improved retirement benefits, aligning with the union's initial demands for approximately 40% wage increases over several years4.