Saudi Arabia welcomes trilateral border treaty between Tajikistan, Kyrgyzstan, and Uzbekistan    Trump prepares to unveil sweeping new US tariffs on 'Liberation Day'    At least 22 civilians killed in Israeli strike on UNRWA clinic in Gaza    UK says it won't jump into US trade war as Starmer urges calm response to tariffs    Russia, Ukraine trade fresh accusations of violating US-brokered energy ceasefire deal    Swedish table tennis legend Jörgen Persson appointed head coach of Saudi national team    Danilo Pereira fires Al Ittihad into King's Cup final with dramatic stoppage-time double    Over 1 million pilgrims benefit from golf cart service at Grand Mosque during Ramadan    Visitors welcomed with Eid initiative at Thee Ain Heritage Village in Al-Baha    Tebuk emir reviews rain response in Tayma    Saudi Arabia considers rent cap as part of major real estate reforms    Messi's bodyguard banned from touchline at Inter Miami games    Screen time in bed linked to insomnia, study finds    Haramain High-Speed Railway transports over 1.2 million passengers during Ramadan    Saudi Transport Authority says passengers can ride for free if taxi meters are off    Ministry of Education forms 425 community partnerships with SR653 million impact    Mexico bans junk food in schools to fight childhood obesity epidemic    Sweet sales surge ahead of Eid as Saudi chocolate imports top 123 million kg in 2024    Saudi creatives shine at Jeddah's Fawanees Nights with art, fashion, and storytelling    T1 CEO confirms Gumayusi's return for LCK Spring after lineup shakeup    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Boeing strike ends as workers back 38% pay rise deal
Published in The Saudi Gazette on 05 - 11 - 2024

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.
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. — BBC


Clic here to read the story from its source.