Union Chief Says Boeing's Latest Offer A $1 Billion Gain

Dec 27, 2013

The international president of the machinists union says Boeing's revised contract offer is an improvement of more than $1 billion.

In a letter to union members, Tom Buffenbarger said the offer that workers will consider next week is a significant improvement over a contract the union rejected last month.

Boeing is seeking a new contract with machinists in the Puget Sound area that would move workers away from traditional pension plans. In the revised offer, Boeing has backed away from a proposal that would have slowed the rate at which employees rise up the pay scale. The company is also offering $5,000 in additional bonus money and improved dental coverage.

Boeing has vowed to build the company's new 777X airplane in the Puget Sound if the machinists agree to the new contract.