EVERETT, Wash. — Thousands of striking Boeing workers will vote on a new contract Wednesday as the company reported a third-quarter loss of more than $6 billion.
During the strike that spanned the past five weeks, some workers took other jobs and lost their health insurance. Meanwhile, without the union workers, Boeing has been unable to produce any new 737s.
Voting will occur from 8 a.m. to 5 p.m. at Washington sites in Auburn, Everett, Moses Lake, Puyallup, Renton, and Seattle. Voting will also happen at two locations in California and one in Portland.
The proposed agreement includes a 35% wage increase over four years, with 12% in the first year.
Other perks in the contract include:
- Incentive plan reinstated with a minimum 4% annual payout.
- Company 401K match raised to 100% of the first 8% contributed and a one-time $5,000 deposit to the fund by the company.
- Lump sum payment of $7,000 if the contract is accepted.
Should the workers vote to accept the contract, they could return to work as soon as Friday but must return by October. 31.
New CEO Kelly Ortberg, who took the helm in August, laid out his plan to turn the company around after years of heavy losses and damage to its reputation.
The company hasn’t had a profitable year since 2018.
In remarks he will give to investors Wednesday, he said said Boeing needs “a fundamental culture change in the company.”
To accomplish that, he said company leaders need to spend more time on factory floors to know what is going on and “prevent the festering of issues and work better together to identify, fix, and understand root cause.”
Ortberg repeated that he wants to “reset” management’s relationship with labor “so we don’t become so disconnected in the future.” He expressed hope that machinists will vote to approve the company’s latest contract offer and end their strike.
“It will take time to return Boeing to its former legacy, but with the right focus and culture, we can be an iconic company and aerospace leader once again,” he said.
The Associated Press contributed to this report.