Boeing sweetened its contract offer and said it was its “best and final” proposal for more than 30,000 machinists on strike.
Boeing on Monday sweetened its contract offer and said it was its “best and final” proposal for its more than 30,000 machinists as their strike, which has halted most of the aerospace giant’s aircraft production, entered its second week. The new offer raised pay, reinstated annual bonuses and increased a bonus that would be given upon the contract’s ratification, among other changes, Boeing said on its website.
The new offer is Boeing’s latest attempt to end a costly strike, the unionized work group’s first since 2008, as pressure is mounting on new CEO Kelly Ortberg to reach a deal. Bank of America analyst Ron Epstein estimated the strike is costing Boeing $50 million a day, and ratings agencies have said the company risks a downgrade the longer the strike lasts.
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