Boeing Proposes New Deal Hoping To End Union Strike

The strike began on September 13 after around 33,000 workers rejected a tentative agreement.

Boeing has proposed a new labor contract in hopes to end a months long strike.

The contract proposal includes a 35% pay raise over four years, a $7,000 ratification bonus and reinstated incentive plan. It also includes enhanced contributions to workers 401k retirement plans, like a one-time $5,000 contribution plus up to 12% in employer contributions.

The strike began on September 13 after around 33,000 workers rejected a tentative agreement. That included a 25% pay increase over four years.

The move has halted the production of Boeing’s best-selling 737 Max jets and has prompted the company to conduct rounds of layoffs amid the situation. The union is set to vote on the new deal on Wednesday.