Boeing workers in the US have announced victory after the aviation giant increased pay by 38%.
The International Association of Machinists and Aerospace Workers (IAM) voted to accept a new contract after a seven-week strike to secure a 38% pay rise over four years and a one-off $12,000 bonus.
The strike against Boeing went on for seven weeks and disrupted the company’s production since September 13.
30,000 Workers Were on Strike
The workers’ strike saw some 30,000 Boeing employees fighting hard for their due right to better pay from the company.
The union announced that the deal was accepted by 59% of members, and will also improve retirement benefits.
Workers will start returning as early as this Wednesday, with all back by mid-November.
Boeing Lost $10 Billion
The company saw extreme difficulty in running the day-to-day affairs as it struggled to maintain production.
The company’s commercial aircraft division posted a $4 billion loss for Q3, and the walkout has reportedly cost Boeing close to $10 billion.
