Boeing workers have voted to accept the aviation giant's
latest pay offer, ending a damaging seven-week-long walkout.
Under the new contract, they will get a 38% pay rise over the next four years.
Striking workers can start returning to their jobs as early as Wednesday, or as
late as 12 November, the International Association of Machinists and Aerospace
Workers (IAM) union says.
The walkout by around 30,000 Boeing workers started on 13 September, leading to
a dramatic slowdown at the plane maker's factories and deepening a crisis at
the company.
IAM said 59% of striking workers voted in favour of the new deal, which also
includes a one-off $12,000 (£9,300) bonus, as well as changes to workers'
retirement plans.
"Through this victory and the strike that made it possible, IAM members
have taken a stand for respect and fair wages in the workplace," union
leader Jon Holden said.
The union had previously called for a 40% pay increase and workers had rejected
two previous offers from the company.
"While the past few months have been difficult for all of us, we are all
part of the same team," said Boeing's chief executive Kelly Ortberg.
"There is much work ahead to return to the excellence that made Boeing an
iconic company."
In a sign of how seriously the White House took the strike at one of the
country's most important companies, acting US Labor Secretary Julie Su flew to
Seattle last month to help with negotiations.
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Boeing has been trying to shore up its finances and end the strike, which has
now cost it nearly $10bn, according to consulting firm Anderson Economic Group.
In October, its commercial aircraft business reported operating losses of $4bn
for the three months to the end of September.
Last week, the firm launched a share sale to raise more than $20bn.
It came after warnings that a prolonged strike could lead to downgrades of
Boeing's credit rating, which would make it more expensive for it to borrow
money.
Last month, the firm said it would lay off around 17,000 workers, with the
first redundancy notices expected to be issued in mid-November.
The latest crisis at Boeing erupted in January with a dramatic mid-air blowout
of a piece of one of its passenger planes.
Its space business also suffered a reputational hit after its Starliner vessel
was forced to return to Earth without carrying astronauts.
Source: BBC