Boeing plans to cancel pensions, workers go on strike
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Civil Aviation Resource Network July 25, 2022: According to Reuters, the union representing nearly 2,500 employees of Boeing's three defense bases in the St. Louis area said on Sunday (July 24) that employees rejected Boeing's new contract. proposed and will hold strikes at these bases from August 1.
Existing contracts for Boeing Defense employees expire on Monday, July 25, and Boeing offered in new contracts that if employees pass the new three-year contract by Sunday, Boeing will give a $3,000 signing bonus instead of An additional bonus of $1,000 per year to a worker's 401(k) plan was proposed earlier.
Boeing's 401(k) plan includes Boeing's pension contributions based on employee wages, up to 10 percent of wages, and 2 percent in 2023 and 2024.
"Boeing has previously stripped our members of their pensions, and now it is not even willing to fully implement our members' 401(k) plans," the International Association of Machinists and Aerospace Workers said in a statement. would accept an unfair contract. "We will not allow Boeing to put the hard-earned 'retirement' of our members at risk."
Boeing said it was "disappointed that workers voted Sunday to reject a strong, highly competitive contract offer." "We are activating contingency plans to ensure our normal operations under the strike."