Boeing machinists have approved a new contract, ending a seven-week strike that stalled much of the company's aircraft production. The deal was passed by 59% of the machinists and includes a 38% wage increase over four years, a signing bonus, and higher 401(k) contributions. This development is a positive step for CEO Kelly Ortberg, who took charge in August. Production is set to resume, helping Boeing’s recovery by delivering aircraft to clients.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Boeing machinists have approved a new contract,
00:04ending a seven week strike that stalled much of the company's aircraft production.
00:08The deal was passed by 59 percent of machinists
00:11and includes a 38 percent wage increase over four years,
00:14a signed bonus and a higher 401k contributions.
00:17This development is a positive step for CEO Kelly Ortberg,
00:21who took charge in August.
00:22Production is set to resume helping Boeing's recovery
00:25by delivering aircraft to clients.
00:26For all things money, visit Benzinga.com slash GSTV.