Boeing said on Sunday it had reached a tentative agreement with a union representing more than 32,000 workers in the U.S. Pacific Northwest, in a deal that could help avert a possible crippling strike as early as Sept. 13.
The proposed four-year agreement, which includes a general wage increase of 25%, 12 weeks of paid parental leave, and improved job security, would need to be approved on Thursday by Boeing factory workers near Seattle and Portland represented by the International Association of Machinists and Aerospace Workers (IAM).
An accepted deal would secure labor peace for Boeing at a time when the planemaker is burning cash and trying to raise production of its strongest-selling 737 MAX to a target rate of 38 aircraft a month by the year’s end.
I believe those are two separate things. The 4 years being for how long this contract will stand. And the wage increase being immediate change to the pay grade tiers.
But we’ll have to see when details are out. I’m only guessing based off other union contracts I’ve had experience with.