The tentative agreement guarantees unionized Boeing employees in the Pacific Northwest a 25% general wage hike over the next four years, helping to avert a strike.
The agreement is crucial as Boeing has been grappling with poor press and stock performance, including a plea deal over fraud charges connected to two fatal crashes.
With the company’s recent controversies including safety inspections revealing loose bolts and thruster issues in spacecraft, this agreement is a much-needed stabilization move.
The labor agreement, if ratified by Boeing's 32,000 workers, will prevent a labor stoppage detrimental to a company already struggling with a decline in revenue.
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