Photo: Flight Story
On Sunday, the employees at three St. Louis Boeing defense locations declined a contract offer from their employer and will be striking beginning August 1 to request better working conditions, including higher compensation.
“Boeing previously took away a pension from our members, and now the company is unwilling to adequately compensate our members’ 401(k) plan,” said the International Association of Machinists and Aerospace Workers union.
The representatives for the union said they would not agree to an unfair and inequitable contract.
“We will not allow this company to put our members’ hard-earned retirements in jeopardy,” the union stated.
Employees at the three plants in Illinois and Missouri constructed the F-15, F-18, T-7 trainer, and the MQ-25 unmanned refueler.
On Sunday, Boeing stated that it “is disappointed with Sunday’s vote to reject a strong, highly competitive offer. We are activating our contingency plan to support continuity of operations in the event of a strike.”
As part of its compensation package, Boeing gave an extra $3,000 bonus to employees who had agreed on the three-year contract by Sunday, instead of an earlier deal to make extra $1,000 yearly contributions to employees’ 401(k) plans.
Boeing’s 401(k) offer included a company match of employees’ contributions up to 10% of employees’ salaries with an automatic contribution of 2% for 2023 and 2024.
The current deal is set to expire today, July 25.
Boeing: Aerospace and Defense Company
In 2022, it was reported that Boeing’s corporate headquarters is planned to be transferred from Chicago, Illinois and moved into Virginia.
The defense company is divided into four primary departments: Boeing Commercial Airplanes (BCA), Boeing Defense, Space & Security (BDS), Boeing Global Services, and Boeing Capital.
It gained an estimated $76.6 billion in sales by 2019 and is ranked 54th on the Fortune 500 list (2020), and sits in the 121st spot on the Fortune Global 500 list (2020).
Read also: TikTok Addresses Data-Sharing Concerns
Opinions expressed by Influencer Daily contributors are their own.