Boeing is raising its offer in an effort to end the strike

Boeing said Monday it has raised its offer to the International Association of Machinists union in an effort to end the strike by 33,000 union members that has now entered its 11th day.

Boeing said Monday it has raised its offer to the International Association of Machinists union in an effort to end the strike by 33,000 union members that has now entered its 11th day. The new offer would give members a 30% raise over the four-year life of the contract, including an immediate 12% raise, up from the 25% in raises overall and an immediate 11% raise that membership voted almost unanimously against on September 12, just before walking off the job at Boeing plants on the West Coast. “We heard your feedback,” said a statement from Boeing to union members on its website. “We’ve made significant improvements to provide more money in key areas.” The new offer also doubled a signing bonus to $6,000, and increased the money that Boeing would contribute to 401(k) plans of union members to match contributions they make themselves. But it did not restore the traditional pension plan that union members lost 10 years ago in a previous labor agreement. The strike, which has brought product of commercial jets to a near-halt, is the first at the troubled aircraft maker in 16 years. Despite its many problems – including the loss of more than $33 billion over the last five years – Boeing is still a major force in US manufacturing and vital to its air transportation system. It is America’s largest exporter, and by its own estimates contributes $79 billion to the US economy, supporting 1.6 million jobs directly and indirectly at suppliers spread across all 50 states. An IAM spokesperson said the union did not have an immediate comment on the new offer.