Boeing engineers and technical workers ratified a new 4-year contract with 10% raises

In the wake of a seven-week machinists' strike in the fall of 2024, which halted Boeing's production of key aircraft, the Society of Professional Engineering Employees in Aerospace (SPEEA) union announced on Thursday that its members had approved the latest contract offer. This decision lifted the threat of another strike at Boeing, the world's largest aerospace manufacturer.

The SPEEA, representing white-collar workers at Boeing, ratified the agreement for United States employees, unveiling enhanced pay and additional perks.

SPEEA's negotiation team expressed satisfaction, stating, "We secured many victories that some people thought were completely out of reach when this negotiation cycle started." This collective triumph would not have been achievable without the individual efforts of the workers, the union's statement emphasized.

The ratification of the new contract was a significant boost for Boeing's stock, which surged by 3.4% on the day of the announcement. Ben Nimmergut, vice president and functional chief engineer for production engineering at Boeing, expressed optimism about the outcome: "We're pleased with the result of the vote. We look forward to working with our team to support our company's continued recovery and meeting our customer commitments now and into the future."

Boeing CEO, Kelly Ortberg, had previously warned about the detrimental effects of a strike, including a pause in the certification process for the 777X aircraft and a negative impact on production. The new agreement is projected to increase the average engineer's pay to $208,000 from $152,000 throughout the contract's duration. Similarly, technical staff can anticipate a raise, with their average income expected to increase from $119,000 to $163,000, according to SPEEA.