Photo: Flight Story
Workers at three St. Louis Boeing defense locations have announced that they will be striking beginning August 1st in reaction to the company’s offer, which was declined by workers, according to a union representing them.
“Boeing previously took away a pension from our members, and now the company is unwilling to adequately compensate our members’ 401(k) plan,” said the International Association of Machinists and Aerospace Workers union.
It added that the union employees are unwilling to accept an unfair and inequitable contract.
“We will not allow this company to put our members’ hard-earned retirements in jeopardy,” the union stated.
Employees at the three plants in Illinois and Missouri constructed the F-15, F-18, T-7 trainer, and the MQ-25 unmanned refueler.
On Sunday, Boeing said it “is disappointed with Sunday’s vote to reject a strong, highly competitive offer. We are activating our contingency plan to support continuity of operations in the event of a strike.”
The company announced an additional $3,000 ratification bonus for employees who agree to the three-year contract by Sunday, instead of an earlier deal to make extra $1,000 yearly contributions to employees’ 401(k) plans.
Boeing’s 401(k) offer included a company match of employees’ contributions up to 10% of employees’ salaries with an automatic contribution of 2% for 2023 and 2024.
The deal will expire today, July 25th.
Read also: Warren Buffett to Investors in Investing
Boeing: Aerospace and Defense Company
In 2022, it was reported that Boeing’s corporate headquarters would be moving from Chicago, Illinois to Arlington, Virginia.
The defense company is divided into four primary departments: Boeing Commercial Airplanes (BCA), Boeing Defense, Space & Security (BDS), Boeing Global Services, and Boeing Capital.
Boeing gained an estimated $76.6 billion in sales by 2019 and is ranked 54th on the Fortune 500 list (2020), and sits in the 121st spot on the Fortune Global 500 list (2020).
Read also: Starbucks to Pull Out from the UK, As Per Reports
