Contract Details
and the agreed on a new contract for 33,000 workers, promising a 25% pay raise over four years and a 33% average wage increase due to seniority step increases.
The contract includes $3,000 lump sum payments, reduced healthcare costs, and commits to building Boeing's next plane in , a key union demand.
CEO's Role and Future Implications
New CEO aims to improve relations with the union and faces the challenge of reversing Boeing's financial losses and addressing manufacturing and regulatory hurdles.
The agreement, pending ratification, averts a strike that could have severely impacted Boeing's operations and financial stability, underscoring the importance of labor relations in the aerospace giant's recovery efforts.