The striking Boeing machinists of the International Association of Machinists and Aerospace Workers union agreed to end their strike late Monday night. The work stoppage lasted seven weeks and caused economic challenges for the plane manufacturing company, which was already suffering from other financial problems. The company reported a loss of $6.1 billion due to the strike.
The union factory workers accepted Boeing’s latest contract offer, which yielded significant gains in salaries and employee benefits. The new deal gives union members a 38% raise over four years and additional productivity incentives and bonuses, according to the Associated Press. Currently, the average salary for Boeing machinists is reportedly $75,608. Under the terms of the new contract, employees will see that average salary total increase to $119,309 throughout the agreement.
