A historic strike has come to a close as workers ratify deal.
“Boeing’s U.S. West Coast factory workers accepted a new contract offer on Monday, ending a bitter seven-week strike that halted most jet production and deepened a financial crisis at the troubled planemaker.
The union said members voted 59% in favor of the new contract, which includes a 38% pay rise over four years, easing pressure on new CEO Kelly Ortberg after two previous offers were voted down in recent weeks.
Shares of the planemaker were down 0.8% on Tuesday.
‘This is a victory. We can hold our heads high,’ Jon Holden the union’s lead negotiator, told members after the results were announced. ‘Now it’s our job to get back to work.’
The end of the first strike in 16 years by Boeing’s largest union provides welcome relief for a company that has lurched from one setback to the next since a door panel blew off a near-new 737 MAX plane in mid-air in January.”
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