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Union members at Boeing have begun to walk off the job after overwhelmingly rejecting a proposed four-year contract with the troubled aircraft manufacturer.<\/p>\n
\u201cThis is about respect. This is about addressing the past, and this is about fighting for our future,\u201d said Jon Holden<\/strong>, the president of District 751.<\/p>\n Here\u2019s everything you need to know about the strike, where more than 30,000 union members are walking off the job.<\/p>\n The proposed contract, agreed upon by union leaders and company management on Sunday after months of negotiations, included several gains for workers but fell short of the union\u2019s initial demands.<\/p>\n The deal included a 25 percent raise over four years, though the unions initially demanded a 40 percent increase. It also offered a $3,000 ratification bonus for each union member. Additionally, Boeing had agreed to increase its annual contributions to the union\u2019s 401(k) plan by up to $4,160 per worker, cover more health care costs, provide 12 weeks of paid parental leave, and improve work-life balance by reducing mandatory overtime.<\/p>\n Kelly Ortberg<\/strong>, Boeing\u2019s new chief executive, urged employees to approve the deal, stating, \u201cA strike would put our shared recovery in jeopardy, further eroding trust with our customers,\u201d in a video statement on Wednesday.<\/p>\n The strike vote passed decisively with 96 percent approval, far exceeding the two-thirds majority required to initiate a walkout, after 95 percent of members rejected the contract that union leaders had described as \u201cthe best contract we\u2019ve negotiated in our history.\u201d<\/p>\n Aircraft assembly workers walked off the job early Friday at Boeing factories near Seattle, Washington. The strike started at 12:01 a.m. PDT, less than three hours after the local branch of the International Association of Machinists and Aerospace Workers announced the results of the vote.<\/p>\n The rejection of the proposal on Thursday reflects resentment among workers over concessions made in past talks, including the loss of pension benefits a decade ago, which the union had sought to reinstate.<\/p>\n Holden had said in a statement several days before the strike that union leaders had recommended approving the deal because \u201cwe can\u2019t guarantee we can achieve more in a strike.\u201d He added then that the union would \u201cprotect and support\u201d whatever decision the members make.<\/p>\n In a statement on Friday after the vote, Boeing said it was \u201ccommitted to resetting our relationship with our employees and the union.\u201d The company said it was \u201cready\u201d to continue negotiations on a new labor contract.<\/p>\n The last Boeing strike, in 2008, lasted 50 days. It was the longest at Boeing since a 10-week walkout in 1995, which cost the company about $100 million daily in deferred revenue. The contract that ended the 2008 dispute has since been extended twice.<\/p>\n Boeing plays a substantial role in the U.S. economy, employing nearly 150,000 people across the country\u2014almost half of them in Washington State\u2014and is one of the nation\u2019s largest exporters. In addition to commercial aircraft, the company manufactures military jets, rockets, spacecraft, and Air Force One, making it a global symbol of America\u2019s manufacturing strength.<\/p>\n If the current strike lasts as long as the 2008 strike, it could cost Boeing at least $3 billion, according to an estimate by Cai von Rumohr<\/strong>, a research analyst at investment bank TD Cowen. Holden stated that members are prepared to \u201cstay out\u201d as long as necessary to secure a better deal this time.<\/p>\n<\/div>\n<\/div>\n \n\t\t<\/div>\nWhat Was in the Proposed Contract?<\/h2>\n
When Did the Strike Start?<\/h2>\n
What Happened at the 2008 Strike?<\/h2>\n
What Will the Strike Impact?<\/h2>\n